Savings and investment firm M&G has appointed Massimo Tosato as a non-executive director.

In addition, Tosato will join the M&G board with immediate effect. He will also become a member of the Remuneration Committee.

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Furthermore, he will become the chair of M&G Group, the asset management entity which is fully-owned by M&G.

Tosato is also a board member of Banca Intermobiliare and a former executive vice chairman of Schroders. He holds more than 40 years’ experience in international financial services.

Mike Evans, chair of M&G plc, said: “I am delighted to welcome Massimo to the board. His knowledge of international asset management, gained over a three-decade career in the industry, will be a valuable addition to the collective expertise of the current board.”

In April 2020, Savills Investment Management (Savills IM), a UK-based real estate investment management firm, hired Alex Jeffrey from M&G Investments to serve as its new CEO.

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Jeffrey replaces Kiran Patel, who has headed the firm on an interim basis after the departure of CEO Justin O’Connor last July.

O’Connor spent 12 years as the CEO of Savills IM. He also served as the firm’s chairman.

After his exit, his responsibilities were split between deputy chairman Nick Cooper and CIO Patel.

In addition, M&G launched its first offices in Australia in response to client demand in August 2019.

The two offices will be located in Sydney and Melbourne.

They will be headed by Chris Andrews as head of business development for Australia and James MacKinnon as head of Australia for real estate.

Andrews and MacKinnon will operate out of Melbourne and Sydney, respectively.

Andrews latterly led client relationships and marketing at M&G Real Estate. He spent over three decades in the fund management space.

Also, MacKinnon formerly served as the head of asset management for Asia Pacific at M&G Real Estate.