SINGAPORE (EDGEPROP) - Global investment manager M&G has announced the appointment of Andrea Rossi as its chief executive and executive director, effective Oct 10.

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Rossi will succeed John Foley, who in April, had announced his intention to retire after seven years in the role. Foley will step down as CEO and executive director on Oct 10 but will remain at M&G in an advisory capacity until Dec 31 to ensure an orderly transition.

Rossi is a former CEO of AXA Investment Managers and a member of the group executive committee of AXA Group for six years. He also held senior roles at AXA’s insurance business across Europe and internationally.

Most recently, Rossi has been a senior adviser to Boston Consulting Group. He will step down from this role following his appointment at M&G. He is also the co-founder of REsustain, a firm focused on reducing the carbon intensity of commercial property, where he will remain as a non-executive director.