M&G has appointed Edward Braham as chair of the board, effective 14 March 2022, confirming a previous announcement made by the firm on 24 February this year.
Braham has also been appointed in the role of chair of the nomination committee.
The international savings and investment business confirmed that Fiona Clutterbuck will step down as interim chair and resume her role as senior independent director. She has been acting in this role since January 2021.
Interim senior independent director, Clare Thompson, will also be stepping down from this temporary role, which she has held since January 2021, and will resume her non-executive role as chair of the audit committee.
These changes come at a crucial time for the firm as it begins its £500 million buyback scheme.
M&G is also undergoing a demerger, which is ahead of schedule as reported in its 2021 annual results earlier this month. Long-term targets have already been met, with capital generation of £2.8 billion achieved across two years, and £145 million in annual shareholder cost savings reached.
Subject to regulatory approval, Kathryn McLeland is set to take the position of chief financial officer in May 2022.
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