Legal & General was founded in June 1836 by Sergeant John Adams and five other lawyers in a café in Chancery Lane. [6] Originally called the New Law Life Assurance Society, the Society was limited to lawyers. The name was changed to Legal & General Life Assurance Society to reflect the fact that the policies were available to the general public, but ownership of the shares was limited to lawyers. The group expanded into the UK and soon began acquiring foreign life insurance companies by buying a retirement business from the Metropolitan Life Assurance Company of New York in the 1930s. [6] Richard Lee joined LGIM in November 2018 as Chief Financial Officer and is responsible for managing the financial strategy, risk and records of the LGIM group of companies. Chris DeMarco is transitioning roles, with the Managing Director now leading strategic clients and new markets, while John Towner takes over the UK leadership. Transfer of pension risks. Mr. Towner was previously responsible for new business. Legal & General Group plc, commonly known as Legal & General, is a British multinational financial services and wealth management company headquartered in London, England. Products and services include investment management, life mortgages (a form of share release), annuities, annuities and life insurance.
From January 2020, following the sale of Legal & General Insurance to Allianz, Allianz will no longer offer non-life insurance. [3] The firm operates in the UK and US, with investment management firms in the Gulf, Europe and Asia. [1] Prior to joining LGIMA, Aaron was Managing Director and Head of Asset-Liability Investment Solutions, Americas at UBS Global Asset Management. He began his career as an actuary at Towers Perrin and Watson Wyatt Worldwide. He is a member of the Society of Actuaries, a member of the Economic Club of Chicago and serves on the CEO Leadership Council of the Financial Services Pipeline Initiative. He holds the CFA designation. Emma Byron, previously Managing Director of Legal and General Retirement Solutions, is now Chief Operating Officer of Legal & General Retirement Institutional. Chris Knight will expand the Retirement Retail Customer division in the UK as more retirees choose to access their real estate assets to generate income and automatic enrolment drives growth in defined contribution pension plans and pension fund size. He will also target annuity contracts and seek to internationalize the company, with the US market at the heart of his concerns. Michael was appointed Head of Responsible Investment Integration for Legal & General Investment Management (LGIM) in May 2020 and leads LGIM`s ESG transformation efforts across the enterprise, having joined LGIM as Chief Operating Officer in 2016. Sarah is responsible for distribution and leads all sales in Europe, Middle East, Africa and Asia. Sarah reports directly to the CEO.
She joined LGIM in 2014 from Insight Investment, where she held the position of Head of Distribution. Previously, she worked at Merrill Lynch Investment Managers and JP Morgan. Sarah started her career at Cazenove as a UK equity analyst. She graduated from Corpus Christi College, University of Cambridge and holds an MA in History. Responsibility: We are a responsible investor and we put it at the center of everything we do. The company became a wholly owned division of Legal & General Group plc in the 1970s. [7] Legal & General Group, founded Legal & General America as a holding company in 1981 and purchased the Government Employees Life Insurance Company (GELICO) and its subsidiary in New York. The GELICO name was changed to Banner in 1983. William Penn was purchased by Legal & General Group Plc in 1989 as a wholly owned subsidiary of Banner Life Insurance Company. She bought the Dutch branch of Different Assurance Group and also founded a company in France in the 1980s. [7] Richard holds a first-class degree in mathematics and statistics and became a Fellow of the Institute of Actuaries in 2002.
Nigel Wilson has been Group Chief Executive Officer and Group Director since 2012. From 2009 to 2012, he was Group Chief Financial Officer. Previously, he was Deputy Managing Director and Chief Financial Officer of United Business Media Plc. From 2009 to 2012, he was Senior Independent Director of Capita Group plc and from 2006 to 2011 Chairman and Lead Independent Director of Halfords Group Plc. Previously, he held various senior positions including Chief Commercial Officer of Dixons Group Plc, Chief Executive Officer of Guinness Peat Aviation and Managing Director of Stanhope Properties Plc and Viridian Capital. He is currently a member of the Prime Minister`s Building Back Better Council. Partnership: We work with our clients to achieve positive long-term results. Legal & General is listed on the London Stock Exchange and is part of the FTSE 100 Index. Legal & General Investment Management (LGIM), the asset management arm of L&G, is AUM`s 10th largest investment management firm in the world.
[4] It is also the second largest institutional asset management company in Europe (after BlackRock). [5] Prior to joining LGIM, Michelle was President and Managing Director EMEA at Columbia Threadneedle Investments and a member of the management team at Ameriprise Financial. Previously, she was Director of Risk Management at M&G Investments and Director of M&G Group Limited, which she joined from BlackRock in 2012. In 2008, Legal & General bought Suffolk Life, a provider of self-invested pension products[19], sold Suffolk Life in 2016 and also outsourced its IT development activities to TCS (Tata Consultancy Services). [20] The company formed a joint venture with two Indian public sector banks, Bank of Baroda and Andhra Bank, to establish IndiaFirst Life Insurance Company in India in 2009[21] and outsourced certain IT activities to IBM in October 2010. [22] In 2013, the company bought Lucida Life, a pension buyout company, for £151 million. [23] Michelle holds an Honours BA in French from the University of Sheffield. Michelle has held a number of senior positions at BlackRock and previously at Merrill Lynch Investment Managers and Mercury Asset Management, including Chief Operating Officer, International Fixed Income; Global Head of Fixed Income and Head of Alternative Investments. Legal & General manages £1.3 trillion ($1.5 trillion) in assets. Legal & General Retirement Institutional works with defined benefit pension funds on buyouts, buyouts and other risk reduction solutions. The UK bond business was worth more than £89 billion on March 9, according to the press release.
Previously, she worked for Schroders, where she spent eight years successfully managing several global, European and UK equity funds focused on high dividend equities. Sonja started her career at DWS in Frankfurt, where she worked as an award-winning global equity portfolio manager. Members of the management team are responsible for their business units and combine their expertise to drive a coherent business strategy at LGIM. Individual annuity and life mortgage turnover reached £1 billion in retail trade in 2016, with lifetime mortgage sales tripling and individual annuity sales up 15% compared to 2015. The division now manages nearly £20 billion in assets for its 500,000 individual annuity clients. Prior to LGIM, Michael spent 28 years at BlackRock (and its predecessor companies), most recently as Regional Group Leader of Client Solutions. Previously, Michael founded and led a number of companies, including Aladdin`s fiduciary mandate business, risk management and enterprise tools business, and the transition management group.