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British M&G has announced that Chief Investment Officer Daniels will retire

The M&G plc logo appears on a smartphone in front of the same logo shown in this illustration taken, December 1, 2021. REUTERS / Dado Ruvic / Illustration

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LONDON, July 27 (Reuters) – Jack Daniels, chief investment officer at British asset manager and insurance firm M&G. (MNG.L)M&G said Wednesday that it intends to retire.

Daniels, who is also managing director of asset management at M&G, will retire in June 2023. He has worked for 21 years at M&G and her ex-mother, Prudential (PRU.L)M&G said in a statement.

Daniels’ departure follows that of CEO John Foley, who announced his retirement plan in April.

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“Since becoming CIO in 2019, Jack has been instrumental in our investment teams, delivering solid performance for our clients and enabling M&G to maintain its reputation for active investing across public and private asset classes,” Foley said in a statement.

M&G separated from Prudential in 2019. The company reported a 9% drop in its 2021 operating profit to £721 million ($868.23 million) but launched a £500 million buyback program as capital generation exceeded targets. Read more

M&G appointed Edward Braham as its new president in March.

The Financial Times reported the news of Daniels’ departure earlier on Wednesday.

(dollar = 0.8304 pounds)

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(Reporting by Caroline Cohen) Editing by David Evans

Our criteria: Thomson Reuters Trust Principles.

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