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 £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also 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. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.

Legal & General Investment Management

LGIM is one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.16 trillion1 ($1.47tn, €1.35tn, CHF 1.31tn). 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.

1 Data as at 30 June 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

*as at HY 2023