M&G creates £28bn wealth management arm after Ascentric deal

David Montgomery named MD

clock • 1 min read

M&G is to combine several of its businesses into a new £28bn wealth management division.

M&G Wealth Management will comprise Ascentric - the platform business it acquired earlier in September from Royal London - along with its direct funds arm and two financial advice units, Prudential Financial Planning and The Advice Partnership (TAP). David Montgomery has been appointed managing director of the new business, subject to regulatory approval. M&G Credit Income trust eyes share issues He was previously chief operating officer for customer and distribution at M&G, having joined at the start of 2020 from US insurer Transamerica. He has also worked in senior positions a...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Industry

FNZ chair Alexander Leitch dies at 76

FNZ chair Alexander Leitch dies at 76

Late financial services 'visionary'

Jen Frost
clock 07 October 2024 • 2 min read
Rachel Reeves backs Invest in Women Taskforce as funding disparity for female founders increases

Rachel Reeves backs Invest in Women Taskforce as funding disparity for female founders increases

Equity investment gap

Linus Uhlig
clock 18 September 2024 • 2 min read
10,000 Interns Foundation urges organisations to rethink hiring practices

10,000 Interns Foundation urges organisations to rethink hiring practices

Beyond 'soft skills'

Linus Uhlig
clock 12 September 2024 • 2 min read
Trustpilot