M&G has promoted John William Olsen to manage the M&G European Select fund following the departure of Charles Anniss.
Olsen will now oversee the M&G Pan European Select fund (£143.4m) and the M&G Global Select fund (£597.2m), and will be deputy manager of the M&G European Smaller Companies fund (£120.1m).
M&G says Anniss, who has been with the firm 16 years, will “pursue another career opportunity”.
It confirmed there would be no change to the investment process and fund objective, which aims to generate capital growth over five or more years.
Mike Oliveros, manager of the M&G European Smaller Companies fund, will become the deputy manager of the M&G European Select and M&G Pan European Select funds.
Kasper Mikkelsen, analyst of the M&G Equities Select team, will become deputy of the M&G Global Select Fund, subject to FCA approval.
Mikkelsen worked with Olsen closely in a previous role at Danish firm Danske Capital.