And clearly, with the strong foundation we have, I see it as being as an opportunity for us." read moreM&G's assets under management and administration dropped 6% in the first half of 2022 to 349 billion pounds, the group reported in August, although it posted net inflows of cash from clients totaling 1.2 billion pounds over the same period. But shares have tumbled 28% since then, compared with a 10% fall in the broader FTSE 100 index. The appointment of Rossi, who will earn a base salary of 875,000 pounds plus incentives, has been approved by Britain's financial regulators the PRA and FCA, M&G said. Foley, who led M&G's split from parent Prudential in 2019, announced his intention to retire in April.

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