Anne Richards joins Fidelity International as CEO

Anne Richards

Global fund manager Fidelity International announced it hired Anne Richards as chief executive officer from M&G Investments.

Richards, currently CEO of M&G Investments, will join Fidelity International in December and report to Abigail P. Johnson, chairman.

Before M&G, Richards was a top executive at Aberdeen Asset Management and Edinburgh Fund Managers.

Fidelity International invests £235.1 billion globally on behalf of clients in 26 countries.

Johnson said: “Anne will assume responsibility for Fidelity International at an important time in its near-50 year history.

“Our ambitions to broaden and deepen our relationship with our clients; innovate in product development and solutions design; and to continue to develop our investment platform and workplace investing businesses have never been greater.

“I am very confident in Anne’s abilities to lead the company in this exciting period of future development and growth.”

Richards has 26 years’ experience in the asset management industry.

Richards chairs the UK Financial Conduct Authority’s practitioner panel and is a member of the US-based Board of Leaders of 2020 Women on Boards, which works to increase the proportion of women on corporate boards.

Richards said: “This is an exciting opportunity to lead an international company as it moves into the next stage of its growth plans.

“Fidelity is an admired global brand with the potential to lead the market as individuals recognise the need to take ever-greater control over their financial security.”

Menawhile, M&G Prudential announced a number changes to its senior leadership team in preparation for its planned demerger from Prudential plc.

M&G Prudential was formed in 2017 through the combination of M&G Investments and Prudential’s UK & Europe life business.

“Anne Richards, currently chief executive of M&G Investments, is resigning from this role and from the board of Prudential plc effective on 10 August 2018, following the delivery of the group’s 2018  half year results, in order to take up a new senior leadership position in the financial services industry,” said M&G Prudential.

“Clare Bousfield, currently chief executive officer of Prudential UK, will become chief financial officer of M&G Prudential.

“John Foley, chief executive of M&G Prudential, will take on the additional responsibilities of becoming chief executive of the key regulated entities of M&G and Prudential UK.”

Foley said: “These changes simplify the way we make decisions, improve accountability and align management capabilities with M&G Prudential’s future needs as an independent listed business.

“I would like to thank Anne for her important contribution to M&G during a period of significant change.

“She leaves the business well positioned, with great performance for clients, strong positive asset flows and profitable growth for shareholders.”

Paul Manduca, chairman of Prudential plc, said: “Anne has made an important contribution to the Prudential plc board during her time with the group, and M&G has delivered strongly for all stakeholders under her leadership.”