Tony Brown has been named head of M&G Real Estate following Alex Jeffrey’s appointment to lead the group’s Asia business.

Brown, was previously chief investment officer at M&G Real Estate since 2014, will split his current responsibilities between two newly created roles. 

M&G also said Simon Pilcher, the chief executive of M&G’s institutional fixed income business, will become executive chairman, providing “strategic direction to M&G Real Estate” in addition to his other duties.

The company said the executive chairman role was created following the recent merger of M&G and Prudential’s UK and European business to form M&G Prudential. 

The role has been created to “broaden the distribution of real estate strategies and accelerate growth,” it said.

Also, Martin Towns has been promoted to head of UK Commercial & Capital Solutions.

M&G also said a head of investment strategy role will also be created to oversee investment governance and drive thought leadership in research and digital innovation.

In November last year, M&G said Jeffrey will become head of M&G’s Asia business in the second quarter of 2018, a move the company says reflects “the growing importance of its investment and distribution” in the region.