L&G creates new trans-Atlantic insurance division
Legal & General has formed a new trans-Atlantic insurance division to tie its UK and US offerings.
Legal & General
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PEOPLE MOVES: Brooks Macdonald, Principal, Vanguard
Brooks Macdonald’s co-founder is to step down as chief executive after 25 years, with his replacement coming from HSBC. Principal Global Investors has named a new head of funds distribution for Asia, while Vanguard has also shuffled its Asian operations, with a focus on China.
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L&G reports record growth in UK and US pensions business
UK insurer Legal & General (L&G) said its retirement unit is on track to double its new business sales in 2016, reporting sales of £5.4bn (€6.2bn, $6.9bn) on Tuesday.
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PEOPLE MOVES: L&G, MUFG, SuMi Trust, SYZ AM
L&G has appointed ex-chief executive of Scottish Widows to its board of directors, while MUFG names its new business development director for EMEA. SuMi Trust has hired Yukihiro Murota as the head of its international unit as SYZ Asset Management finds a new head of sales for Italy.
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Gold alternatives in the post-Brexit world
With gold having been one of 2016’s most popular defensive strategies against persisting low returns and the struggle for income, Legal & General Investment Management’s multi-index fund range manager Justin Onuekwusi outlines four alternatives to gold for the post-Brexit world.
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PEOPLE MOVES: Axa, Legal & General, Aegon
Axa Asia has named a chief executive of Life & Savings and Distribution, while Legal & General have added to its investment and pension risk transfer businesses with two appointments. Aegon Asset Management has bolstered its American real estate advice business with three people moves.
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PEOPLE MOVES: Orbis Access, Ascentric, LGIM
Orbis Access hires Old Mutual International’s Marcel Bradshaw to head up its UK retail division, while the Ascentric platform appoints Simon Gully to a newly appointed role. LGIM lures its new head of head of DC solutions from JPM Asset Management, while ex-Baring chief investment officer Ken Lambden is hired as part of a senior…
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Legal & General sells Cofunds to Aegon
Legal & General Group has sold its investment platform Cofunds to Dutch insurer Aegon.
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LGIM’s profits slip despite rise in international assets
Legal & General Investment Management’s profit slipped by a marginal 3% to £171m in the first half of the year versus the same period in 2015.
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L&G ups UK property fund valuation by 5%
The price of Legal & General’s UK Property Fund rose by 4.3% after repricing the charge it imposed on people who wanted to withdraw cash from the fund.
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PEOPLE MOVES: Friends Provident, Old Mutual, Legal & General
Friends Provident International and Old Mutual Global Investors have announced senior appointments in Asia. Legal & General Investment Management has created a new head of wealth management role and Axa IM has boosted its UK distribution efforts with its latest recruit.
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PEOPLE MOVES: Legal & General, Axa, Schroders
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.