M&G has changed the management of the firm's Climate Solutions fund, as well as the Luxembourg domiciled equivalent of the fund.
Incumbent manager Randeep Somel has left the firm and the asset management industry, which M&G said was "to take up a corporate role".
John William Olsen, who currently leads the firm's listed equity impact team, has since been appointed manager of the fund, with Jasveet Brar deputising.
Meanwhile, Ben-Constable Maxwell will continue in his role as impact lead on the team's impact fund range, which he helped develop with Olsen in 2018.
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To support the team, Michael Rae, an equity sector analyst with a focus on energy and renewables in M&G's central equity research team, is set to join the firm's Sustain & Impact equities team as a senior analyst.
Rae has worked in the financial services industry for 17 years with a focus on climate and environmental stocks. M&G said that he has "already been working closely with the Sustain & Impact, broader equities and Catalyst teams on energy renewables and related stocks and topics".
The fund was launched in 2020, with a goal to investing in firms that "deliver solutions to the challenge of climate change". M&G said there would be no changes to the aims, objectives or policies of the fund.
Fabiana Fedeli, CIO, equities and multi-asset at M&G, said: "John William and the wider impact team continue to be instrumental in developing our impact investment approach within equities and will be ably supported on this strategy by Michael's extensive knowledge and experience in the renewables and energy sector.
"With the need to decarbonise our economies as the long-term structural driver of the strategy, along with the management team's many years of experience and continuity in our approach, we believe that our investors' investment and sustainability objectives will continue to be met.
"Randeep has been a fantastic ambassador for the strategy and its ambitions, as well as for M&G as a whole. We would like to thank Randeep for his contribution over the past 17 years and we wish him the very best for the future."
