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Corporate
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Legal & General Investment Management (LGIM) announces that it is extending its existing partnership with State Street by expanding its usage of Charles River technology and to deliver middle office servicing.
14 Jul 2021
This appointment of State Street, as well as the expansion of our use of Charles River technology across a number of our investment management services in the UK, America, Asia and Europe will enable us to offer a more automated, consistent and seamless way for all our clients to do business with us from all over the world.
The main impact of this transaction will be to improve LGIM’s operational scalability – we expect it to be financially neutral. LGIM’s financial ambitions remain as stated in previous market guidance.
Brenda Sklar, Chief Operating Officer: "This continues our evolution of building a market-leading, scalable global operating model to deliver best in class service to our clients and make it easier for them to do business with us."
John Plansky, Head of State Street Alpha: "We are thrilled that LGIM is expanding its partnership with State Street to improve its global operating model by further leveraging Charles River and committing to our State Street Alpha services platform."
Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at FY23) of which c40% (circa £0.5 trillion) is international.
We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.
As at 7 June 2024, we estimate the Group’s Solvency II coverage ratio to be 224%.
As at 11 June 2024, Legal & General has a market capitalisation of £14.6 billion.
LGIM is one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.2 trillion1 ($1.5tn, €1.3tn, CHF 1.2tn). We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.
For more than 50 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 the full spectrum of asset classes including fixed income, equities, commercial property, and cash. Our capabilities range from index-tracking and active strategies to liquidity management and liability-based risk management solutions.
1Data as at 31 December 2023. Data combines assets under management by LGIM in the UK, LGIMA in the US and LGIM Asia in Hong Kong. Assets under management include securities and derivatives positions.