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
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."
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 is one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.28 trillion (€1.43 trillion; CHF1.55 trillion; $1.75t trillion; JPY181 trillion)*. We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors. Throughout the past 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.
*LGIM internal data as at 31 December 2020. The AUM disclosed aggregates the assets managed by LGIM in the UK, LGIMA in the US and LGIM Asia in Hong Kong. The AUM includes the value of securities and derivatives positions.
(As of June 2021)
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