Legal & General Investment Management (LGIM) has announced the appointment of Helena Morrissey as Head of Personal Investing for its UK direct business.
30 Jan 2017
This is a new role, reflecting LGIM’s commitment to developing its business offering savings and investments direct to customers. Technology and changing consumer behaviour are transforming the savings industry, and Helena’s appointment will help LGIM address these trends.
Helena was chief executive of Newton Investment Management for 15 years, before stepping down last August, and is chair of the Investment Association (IA). She also founded the 30% Club and chairs the Diversity Project2. Her expertise in this area will benefit Legal & General as the company aims to achieve gender balance in the workforce through the 50/50 by 2020 initiative. Helena has, throughout her career, championed greater diversity and transparency in the asset management industry and the wider business community. In her new role, she will build and lead a compelling digital platform for direct customers, helping them to manage key milestones such as saving for children or investing for retirement. Helena will report into Mark Zinkula, CEO of LGIM, and will be joining LGIM’s board.
The UK savings market is undergoing significant change, with increasing convergence between pensions and other forms of savings such as ISAs. LGIM’s defined contribution (DC) business has grown from £28bn in 2012 to £50bn3 and has over two million customers in workplace pensions. LGIM already offers investment products to consumers directly, and the direct proposition will build on its relationships with existing end customers as they move through their working lives into retirement. Helena will work closely with LGIM’s DC, and its wealth and intermediary businesses as she develops the direct proposition.
Helena said: “I wanted a role where I could make a real difference to how the industry engages with its customers. LGIM has the potential to be not just a market leader in this space but to develop a genuinely different approach. We are looking forward to building a savings business with strong and direct connections with our customers, including those who have never really thought about investing before or find existing offerings off-putting. There is no doubt that the UK direct savings market is highly competitive and moving very quickly: we are looking to get to the point where we are all using technology to access funds in the same way that we use Amazon to access books. Our focus will be on building a service, not a sales process.”
Mark said: “We are very excited that Helena is joining us at LGIM. She is highly respected and one of the most progressive thinkers in the industry. She is passionate about understanding and meeting the needs of investors, and is the right person to lead LGIM’s direct to consumer business. LGIM is a market leader in defined benefit (DB) and DC pensions and is experiencing strong growth in its wealth and intermediary business, and we see an opportunity to bring our significant expertise to the direct market. Our business model continues to evolve, and we will remain at the forefront of meeting our customers’ needs with a focus on value for money, transparency and responsible investing.”
Helena will take up her new role on May 1, subject to the usual regulatory approvals. She will continue to chair the Diversity Project, which is supported by LGIM.
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
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.
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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.