Andrea Rossi has been appointed CEO of M&G, succeeding John Foley, who announced plans to retire in April after seven years in the role.
Rossi was formerly CEO of AXA Investment Managers, where he spent nearly seven years. He worked in various roles at AXA since 2001, before which he was a director at Aegon.
More recently, Rossi has been a senior adviser to Boston Consulting Group, a role from which he will step down following his appointment at the firm.
Rossi is co-founder of REsustain, a firm working to reduce the carbon intensity of commercial property. He will remain there as a non-executive director.
Outgoing CEO Foley took up the role in 2015, having joined Prudential in 2000 as deputy group treasurer.
During his time as CEO, he transacted the merger of M&G Investments and Prudential UK in 2017 and its subsequent demerger from Prudential plc in 2019.
He will remain at M&G in an advisory capacity until 31 December 2022.
Edward Braham, chair of M&G, said: “We are delighted to announce the appointment of Andrea Rossi as CEO of M&G. His deep experience in both global asset management and insurance is an ideal fit for M&G. He is an inspiring and proven leader with a strong track record of delivering profitable growth and outstanding client outcomes.”
Rossi will have access to a base salary of £875,000.
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