Anne Richards, chief investment officer (CIO) of Aberdeen Asset Management, is to become chief executive of M&G Investments when Michael McLintock retires later this year.
McLintock has been with M&G Investments, the investment arm of Prudential, for 19 years. "I feel strongly that it's time for a change," he said.
Richards began her career in Geneva at the nuclear research organisation CERN. She joined Aberdeen in 2003 when it acquired Edinburgh Fund Managers, and latterly she was a board member, CIO, and responsible for operations in Europe, the Middle East and Africa (EMEA).
Her role as head of the company's solutions business (covering multi-asset, alternatives and quantitative investment capabilities) will be taken over by Andrew McCaffery who is currently global head of alternatives.
McCaffery will report to Hugh Young who already heads up the group's equities, fixed income and property businesses. Andrew Laing, the group's deputy chief executive, will take over responsibility for the group's operations in EMEA.
The appointments of Richards and McCaffery are subject to regulatory approval.
M&G is a London-headquartered international active manager of £247bn ($352bn) of assets through strategies across equities, fixed income, real estate and multi asset.
Aberdeen, an FTSE 100 company, manages around £120bn for global insurance businesses and around £284bn in total.