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...We’re always engaged in conversations, but I’m challenging the team and myself to think more broadly and more openly about the opportunities we have.”...
...However, top shareholders including M&G, Redwheel, and Blackmoor Investment Partners are planning to vote against the offer in the coming weeks....
...Investment manager M&G has reported a 28 per cent rise in profits for 2023, in the first annual results for chief executive Andrea Rossi, who has pledged to transform the company....
...The group is split into an active asset management arm, a life insurance and pensions business and a financial advice business. M&G’s share price rose by about 2 per cent in morning trading....
...Apparently, Apollo Global Management has other priorities....
...M&G marries asset and wealth management to a mature insurance business. Rossi wants to grow the former two faster than the latter. Good idea....
...“I’m a front door sorta guy. I think it was effective and I’d do it again.”...
...He joins from Schulte Roth & Zabel, where he co-chaired its M&A and securities group....
...Neal Brooks, M&G’s global head of product and distribution, said declining retail investor interest was “posing challenges to the future viability of funds like the M&G Property Portfolio, particularly for...
...In its full-year results, M&G reported a 28 per cent rise in pre-tax adjusted operating profit in 2023, to £797mn, beating analysts’ expectations....
...The company separately confirmed the claim was filed by M&G. M&G Real Estate declined to comment on Tuesday....
...Maybe it’s time to change management in those divisions.”...
...M&G also featured in the top 10 providers for both net and gross sales in 2023, having enjoyed a 90 per cent rise in the latter year on year....
...Which is why I’m sceptical much change happens....
...Net demand for investment trusts on platforms such as Transact, Fidelity Adviser Solutions, M&G and 7IM was negative for the first time since records started in 2011, with sales exceeding purchases by £53mn...
...M&G Investments’ annual bond forum in London earlier this year featured an unusual presence on the stage: a large colourful statue of an elephant....
...The use of data-led analytics, he adds, also plays into the hands of large management consultancies such as Accenture that are also offering marketing services as part of their offer to corporate clients...
...He did gain a seat on the P&G board after a very close vote and recount....
...Honestly, I’m not sure how many people think about the market in terms of fundamentals anymore....
...To be fair to Kenny G, his position is more nuanced than this quote would suggest (even if we think there’s an element of Rorschach’s “you’re locked in here with me” vibe here)....
...In September, Discover agreed to improve its consumer compliance management system under a consent order from the FDIC....
...I’m not talking about real dollars, meaning dollars adjusted for inflation....
...“I’m not here to win friends and be happy ever after. We obviously have to be respectful....
...It has a catch-all Vanguard Global Bond Index GBP Hedged fund or there’s the more expensive actively managed M&G Global Macro Bond Fund instead....
...The move follows M&G’s decision to close its £565mn property fund last week after the asset manager blamed “declining interest” from retail investors....
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