Legal & General has named a Whitehall veteran as group chairman, while Axa has announced a series of senior level changes. Schroders has promoted from within to fill its head of multi-asset investment role.
Set to lose its UK Smaller Companies veteran, Royal London Asset Management has nabbed a senior fund manager from Axa Framlington as a replacement. Legal & General has appointed a Mastertrust trustee and government committee member, while Mercer Jelf has named its new head.
Axa promotes internally to fill chief operating officer role for its Asian operations, while Walker Crips hires ex-Nutmeg head of compliance. Rowan Dartington appoints new investment manager in its London office, as China’s GFI gets new chief investment officer.
Architas has named a Barclays managing director and chief investment officer as its new chief investment officer, while Julius Baer has added an executive director to its Guernsey team. AllianzGI is strengthening their alternatives pillar, with L&G bidding farewell to its chairman.
Insurance giant Legal & General (L&G) has bought a £3bn ($4.3bn, €3.9bn) UK annuity portfolio from Dutch-headquartered life group Aegon.
Legal & General Investment Management (LGIM) and Nikko Asset Management announced on Wednesday the signing of a business cooperation agreement that will expand LGIM’s presence in Japan’s fixed income market and further Nikko’s aims in Europe.
A group of exchange traded product providers has banded together to launch the ETF Forum, an initiative designed to improve advisers’ understanding of exchange-traded funds.
Legal & General Investment Management (LGIM) reported a 402% increase in external net asset flows in its annual results, rising from £7.5bn ($10.8bn, €9.7bn) in 2014 to £37.7bn in the year to 31 December 2015.
Schroders courted a little controversy this week with the appointment of its new board chairman. Zurich Insurance named a new chief underwriting officer in Asia Pacific, while Legal & General Investment Management created a new head of product role.
Legal & General has entered into a second US pension risk transfer deal with a buy-out of around $65m (£44.9m, €57.7m) in pension liabilities.
As Amundi and First Names Group welcome senior figures, Legal & General is preparing for a departure. Meanwhile, accountancy firm PKF Littlejohn and law firm Fieldfisher have boosted their investment and regulatory offerings with new hires.
The first rate rise since the financial crisis was a long time coming and markets initially responded relatively well, but it is starting to look like a miss-step by the Federal Reserve.
