M&G plc announced Former Brooks Macdonald chief Caroline Connellan has been appointed CEO of M&G Wealth. Connellan will take up her post in September, overseeing M&G’s £85 billion wealth division. She replaces Clare Bousfield, who left the business in May, and will report to M&G CEO Andrea Rossi.

Connellan stepped down as CEO of Abrdn’s personal wealth division for personal reasons a year ago after nine months in the role. Prior to this, she served as CEO of Brooks Macdonald for four years, leading a strategic overhaul of the business before her exit in 2021. Overall, she has 25 years of experience.

She started her career at Newton Investment Management, which was followed by stints at HSBC’s retail and wealth arm and the Investment Association. Commenting on the appointment, Rossi highlighted Connellan’s track record in transforming businesses to deliver growth. Connellan is the latest former senior Abrdn figure to join M&G’s wealth operation.