Legal & General Investment Management (LGIM) has made two senior appointments, with Chad Rakvin (pictured) succeeding Ali Toutounchi as global head of index funds and Eve Finn taking up the newly created role of head of portfolio solutions.
Rakvin joined Chicago-based LGIM America as head of US index funds in 2013. Prior to this he was the global equity index director at Northern Trust and has also worked at Barclays Global Investors, Dow Jones Indexes and Pennsylvania Financial Advisors.
In his new UK-based role he will lead LGIM’s London, Chicago and Hong Kong index teams, managing around £275 billion (€377 billion) of index assets.
Rakvin’s appointment follows the planned retirement of Toutounchi, which was announced in January this year. Toutounchi will continue to be associated with LGIM after his retirement, in a strategic and advisory capacity.
Finn first joined LGIM in 2009 and most recently held the role of head of portfolio construction, LDI [liability driven investment] funds. Before this she worked in the Global Pensions Strategy Group at Deutsche Bank.
Her appointment as head of portfolio solutions was driven by demand from LGIM’s clients for products that are focused on delivering specific outcomes. Over half of LGIM’s £715 billion of assets is now managed for targeted outcomes, rather than against traditional benchmarks.
The appointments are subject to approvals and both roles will report to Aaron Meder, head of investment at LGIM.
LGIM manages £714.6 billion in total assets for more than 3,000 clients, as at June 30, 2015.
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