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CEO of Prudential PLC's M&G Investments to leave for Fidelity International

Anne Richards will resign from Prudential PLC's board and as CEO of unit M&G Investment Management Ltd., effective Aug. 10 after Prudential announces its first-half results.

Richards will join Fidelity International Ltd. in December as its CEO and will report to the asset manager's chairman, Abigail Johnson.

Her departure comes after Prudential merged M&G Investments with Prudential UK & Europe to form M&G Prudential, which is set to de-merge from the group in 2019 or 2020, the Financial Times noted.

Prudential also said Clare Bousfield, CEO of Prudential UK, will become CFO of M&G Prudential. M&G Prudential CEO John Foley, meanwhile, will take on additional responsibilities as CEO of the key regulated entities of M&G and Prudential UK.