M&G Prudential, the £341 billion (€395 billion) asset management business that is being created from the demerger of Prudential’s UK and European business from its operations around the world, has appointed Jack Daniels as its chief investment officer.
Daniels, currently the CIO of Prudential UK and group treasurer for Prudential Plc, moves across to head up the newly-created global investment management unit.
He has 34 years of treasury and investment experience and joined M&G in 2001, following which he helped to establish Prudential Capital, the treasury and in-house investment arm of Prudential PLC.
“The creation of a single global investment management unit spanning all our investment capabilities – from equities through fixed income and on to private and alternative assets – will enhance the current collaboration between investment management teams across M&G Prudential,” said Daniels.
“It will also bring a cohesion to the way we invest and give us an efficient investment platform which can be scaled to match our growth ambitions. For clients, it should improve access to our full range of capabilities, and lead to quicker product innovation and better service.”
As part of the management changes, Simon Pilcher is stepping down from his roles as chief executive of M&G Prudential’s institutional fixed income business and chairman of real estate.
After assisting with the transition, Pilcher, who joined the firm in 1998, will leave the firm.
William Nicoll, co-head of alternative credit at M&G, will take responsibility for the institutional fixed income investment team and report to Daniels.
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