M&G could be broken up once its new chief executive is appointed.
The underperforming FTSE 100 savings and investment group is no longer fit for purpose, according to some investors, despite it only being formed from its demerger from Prudential three years ago.
They argue that the £150bn asset management business should be detached from the near £200bn retail and savings division.
Listed rival Schroders has previously explored a bid for M&G, a deal which would have created a £1tn asset manager.
