Aberdeen Asset Management Chief Investment Officer Anne Richards is to take over as chief executive at M&G Investments, the fund arm of insurer Prudential.   The move is set to be completed later in 2016, subject to regulatory approval.

Richards joined Aberdeen after it bought Edinburgh Fund Managers in 2003. She joined the Board in 2011 and was also in charge of operations in Europe, the Middle East and Africa, Aberdeen said in a statement.

Michael McLintock will retire as CEO of M&G Investments and as an executive director of Prudential.

Mr. McLintock was appointed CEO of M&G in 1997 and oversaw its acquisition by Prudential in 1999.