Incoming M&G CEO staunchly refutes break-up possibility

Media call

Incoming M&G CEO Andrea Rossi has put to bed any speculation that he will carve up the company by stating in his first media call that it was one option he “will not pursue”, reasoning the integrated model was “one of the main reasons” he took the role.

Rossi, who takes over from John Foley and will start the job on 10 October, stated to break up M&G was to "ignore a fundamental and unique advantage of One M&G." Three years ago the company demerged from UK insurer Prudential and investors and analysts hoped that this would allow for growth in the asset management and savings business. However, this has not come to fruition, with the share price falling 26.5% since November 2019. Currently, M&G is comprised of a £370bn asset management business and a £211bn retail and savings arm. Prior to Rossi's appointment there had been speculatio...