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M&G’s new boss says he won’t break up the business

M&G’s newly appointed chief executive has said he will not pursue a break-up of the investment and savings group.

The City of London-based firm has announced that Andrea Rossi will take the helm at the company from October, as John Foley steps down after seven years as chief executive.

“[There] is one option that I will not pursue, and that is a break-up of M&G,” Rossi said on Thursday.

M&G has £370bn of assets under management and administration. The company demerged from Prudential in 2019.

The Times (£)

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