Connellan will lead M&G’s multi-channel wealth business which encompasses financial advice, advisor services including the M&G wealth platform, and investment solutions. The business, which has circa £85 billion ($108 billion) assets under administration, works with around 500 of its own advisors, and has an active relationship with more than 3,000 advice firms.

With more than 25 years of experience in retail financial services, Connellan has a track record of transforming and growing wealth management businesses. Most recently, she was CEO of abrdn Personal Wealth, and CEO and executive director of wealth manager Brooks Macdonald Group.

Connellan has held a number of senior positions, including head of UK Premier and Wealth at HSBC and group strategy director at Standard Life. She gained extensive consulting experience across wealth, asset management and insurance in her eight years with McKinsey. Connellan began her career as a private client investment manager with Newton Investment Management.

“I am delighted to welcome Caroline to M&G. She demonstrates a powerful combination of strong commercial leadership and industry expertise with an excellent track record in driving transformation to deliver profitable growth. She brings a relentless focus on clients and advisors, and significant experience in creating innovative products and services to meet their changing needs...I am confident that Caroline’s commercial drive, client-focused approach, energy and leadership will be instrumental in helping us deliver on our ambitions and transform how M&G delivers value to its clients and key stakeholders,” Rossi said.

“I am excited to be joining M&G to lead its Wealth business. It’s now more important than ever for people to be able to secure their financial future in a way that is tailored to them, and M&G is well placed to meet the needs of both clients and advisors...I am looking forward to working with the team to build on this – shaping the Wealth business for the future, expanding our range of compelling products and services, and strengthening our relationships with clients and advisors,” Connellan added.