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Money Management

M&G Prudential names CIO

Jack Daniels was named chief investment officer M&G Prudential, a spokeswoman said.

The position is new. Mr. Daniels leads the global investment management unit, which was established following the merger of Prudential's money management business M&G Investments with life insurance business Prudential U.K. & Europe, which was effective March 4.

Mr. Daniels takes over the responsibilities of Simon Pilcher, CEO of institutional fixed income business and chairman of real estate.

Mr. Pilcher after assisting with the transition, will leave M&G Prudential, the spokeswoman said.

"Over the past two decades, Simon has built an outstanding business, powered by his passion for people and excellence in investment and client service. He goes with our great thanks and our best wishes for the future," the spokeswoman said in an email.

Mr. Daniels was previously CIO of Prudential U.K. and group treasurer for Prudential PLC.

William Nicoll will be head of the institutional fixed income investment team and report to Mr. Daniels. Mr. Nicoll was co-head of alternative credit.

In other changes, Graham Mason, currently CEO of equities, retail fixed income and multiasset, was appointed chief international officer. The position is new.

Additional details could not be learned.

M&G Prudential has 341 billion ($450 billion) in assets under management globally.