Legal & General Investment Management Announces Senior Appointments
Legal & General Investment Management (LGIM) has announced two new senior appointments.
Chad Rakvin succeeds Ali Toutounchi as Global Head of Index Funds and Eve Finn is appointed to the new role of Head of Portfolio Solutions. Both roles will report to Aaron Meder, Head of Investment at LGIM.
Rakvin joined Chicago-based LGIM America (LGIMA) as Head of US Index Funds in 2013. In his new UK-based role he will lead LGIM's London, Chicago and Hong Kong index teams, managing circa £275 billion of index assets.
Rakvin's appointment follows the planned retirement of Ali Toutounchi, Global Head of Index Funds, announced in January 2015. Toutounchi will continue to be associated with LGIM after his retirement in a strategic and advisory capacity, enabling LGIM and its clients to benefit from his significant expertise and experience.
Finn joined LGIM in 2009. Her appointment reflects the increasing demand from LGIM's clients for products and solutions that are focused on delivering desired outcomes spanning the full range of the company's expertise. Over half of LGIM's £715 billion of assets is now managed for targeted outcomes rather than against traditional benchmarks.
The appointments are subject to appropriate approvals.
Aaron Meder, Head of Investment said: "Chad has performed a pivotal role in establishing the foundations of our significant growth in the US market where we now manage in excess of $64 billion in index assets.
"As we continue to grow in international markets, it is key that we have a strong leader with a global vision for our overall index business. Succession to Ali has been a core focus for us since we first brought Chad into our US business.
"Eve will expand her responsibilities from engaging with our major LDI clients on derisking solutions, to one that brings together the best of LGIM's front office investment capabilities in delivering investment solutions to our institutional and retail clients.
"I look forward to working more closely with Chad and Eve as we continue our build of a 'best in class' global asset management business."
Notes to editors
LEGAL & GENERAL INVESTMENT MANAGEMENT:
Legal & General Investment Management (LGIM) is one of Europe's largest institutional asset managers and a major global investor. LGIM manages £714.6 billion in assets for more than 3,000 clients*. Throughout the past 40 years we have built our business through understanding what matters most to our clients and transforming this insight into valuable, accessible investment products and solutions. We provide investment expertise across a full spectrum of asset classes including equities, fixed income, commercial property and cash. Our capabilities range from index-tracking and active strategies to liquidity management and liability-based risk management solutions.
*As at 30 June 2015
Chad joined LGIMA in 2013 as the Head of US Index Funds. He is responsible for developing the US index fund management business. Prior to joining LGIMA, Chad was the Global Equity Index Director at Northern Trust. Prior to Northern Trust, Chad worked at Barclays Global Investors, Dow Jones Indexes and Pennsylvania Financial Advisors. Chad is a CFA charterholder and he holds a BS in finance from Indiana University of Pennsylvania.
Eve joined LGIM in 2009 and is Head of Portfolio Construction, LDI Funds. Eve is responsible for structuring and managing liability-focused derivative strategies for both pension scheme and insurance clients. Prior to joining LGIM, Eve worked in the Global Pensions Strategy Group at Deutsche Bank developing liability management solutions and multi-asset strategies for a variety of global pension schemes. Prior to this, Eve was an investment consultant at Watson Wyatt. Eve has a first class honours degree in financial and actuarial mathematics from Dublin City University and is a fellow of the Institute of Actuaries.
For more information please contact:
Head of Group Corporate Communications
t: +44 (0) 2031 242095
m: +44 (0) 7515 324001