UK asset manager M&G plc has hired Andrea Rossi from US management advisory firm Boston Consulting Group as its new chief executive officer and executive director.
Rossi will take the reins on October 10 from John Foley who will officially step down after announcing his plan to retire back in April, M&G says in a statement on September 29.
Foley will stay on in an advisory capacity until December 31 in order to ensure orderly transition.
Rossi is currently a senior adviser at Boston Consulting and was CEO of French asset manager AXA Investment Managers before that.
“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 record of delivering profitable growth and outstanding client outcomes,” Edward Braham, chair of M&G, says in the statement.
London-based M&G had £348.9 billion (US$388.88 billion) of assets under management and administration as of June 2022.
