Press releases

LGIM strengthens UK fund management board with two new independent non-executive directors

Legal & General Investment Management (LGIM) today announced the appointment of Professor Andrew David Clare and Eimear Cowhey as independent non-executive directors (iNEDs) to the board of Legal & General (Unit Trust Managers) Limited (UTM). UTM is LGIM’s UK UCITS manager and alternative investment fund manager.

22 Jan 2020


Full press release

The appointees join four executive directors on the Board and fulfil the FCA requirement for authorised fund management companies to appoint a minimum of two iNEDs. The Board is chaired by Ali Toutounchi.

Professor Andrew David Clare is Professor of Asset Management at Cass Business School in London. His current research topics include fund manager performance evaluation, investment strategies and pension fund finances. Outside of academia, Andrew has extensive experience working with pension schemes and investment management firms, currently holding a number of advisory positions, including as Trustee and Chair of Magnox pension plan’s investment committee.

Eimear Cowhey is an experienced investment management professional with over 25 years’ experience in investment fund management, including at Pioneer and Invesco Perpetual. As well as being a qualified solicitor in Ireland, Eimear is a former chairman and council member of the Irish funds industry association (Irish Funds) and was a member of the Committee on Collective Investment Governance established by the Central Bank of Ireland in December 2013.

Michelle Scrimgeour, CEO of LGIM Holdings Group: "I am delighted to welcome Andrew and Eimear to the Board. Their longstanding industry expertise, in particular, Andrew’s academic research on investment combined with Eimear’s regulatory and governance background will be a great support as we further strengthen our reporting frameworks and ensure best practice in demonstrating value to our clients."

Further information

Notes to editors

Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.4 trillion in total assets under management* of which a third is international. We also provide powerful asset origination capabilities. Together, these underpin our leading retirement and protection solutions: we are a leading international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Through inclusive capitalism, we aim to build a better society by investing in long-term assets that benefit everyone. 

*at 31 Dec 2021

Legal & General Investment Management

Legal & General Investment Management is one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.29 trillion1. 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.

1Globally, we manage assets of £1.42 trillion or CHF 1.75 trillion as at 31 December 2021 (source: LGIM internal data as at 31 December 2021). The 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.

*at 11 Jan 2023

KEY RISKS

Past performance is not a guide to the future. The value of an investment and any income taken from it is not guaranteed and can go down as well as up, you may not get back the amount you originally invested. For illustrative purposes only. Reference to a particular security is on a historical basis and does not mean that the security is currently held or will be held within an LGIM portfolio. The above information does not constitute a recommendation to buy or sell any security. Views expressed are of LGIM as at 3 January 2023.

IMPORTANT LEGAL NOTICE

In the European Economic Area, it is issued by LGIM Managers (Europe) Limited, authorised by the Central Bank of Ireland as a UCITS management company (pursuant to European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. No. 352 of 2011), as amended) and as an alternative investment fund manager with "top up" permissions which enable the firm to carry out certain additional MiFID investment services (pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257 of 2013), as amended). Registered in Ireland with the Companies Registration Office (No. 609677).  Registered Office: 70 Sir John Rogerson's Quay, Dublin, 2, Ireland. Regulated by the Central Bank of Ireland (No. C173733).

LGIM Managers (Europe) Limited operates a branch network in the European Economic Area, which is subject to supervision by the Central Bank of Ireland. In Italy, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Commissione Nazionale per le società e la Borsa ("CONSOB") and is registered with Banca d'Italia (no. 23978.0) with registered office at Piazza della Repubblica 3, 20121 Milan, (Companies' Register no. MI - 2557936). In Germany, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the German Federal Financial Supervisory Authority ("BaFin"). In the Netherlands, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Dutch Authority for the Financial Markets ("AFM") and it is included in the register held by the AFM and registered with the trade register of the Chamber of Commerce under number 74481231.Details about the full extent of our relevant authorisations and permissions are available from us upon request. For further information on our products (including the product prospectuses), please visit our website.