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Legal & General Group Plc has named Mark Zinkula’s successor as chief executive of its investment arm.
Michelle Scrimgeour, who currently serves as CEO for the EMEA (Europe, Middle East, and Africa) operations of Columbia Threadneedle Investments, has been named the incoming boss of Legal & General Investment Management (LGIM). She will assume the role upon completion of regulatory and other formalities.
In addition to taking up the top post at LGIM, Scrimgeour will also be joining the group’s board as executive director. Zinkula – who is retiring at a still-unconfirmed date later this year – will work closely with the former M&G Investments chief risk officer to ensure a comprehensive handover.
Scrimgeour is also CEO of Threadneedle Asset Management Limited and brings experience from BlackRock as well. Legal & General said her appointment follows a global search process.
“I am delighted Michelle is joining us to lead the next phase of LGIM’s growth both with our existing UK clients and internationally,” commented Legal & General chief executive Nigel Wilson.
“Her successes at Columbia Threadneedle, M&G, and Blackrock clearly demonstrate that she combines a capacity for managing and growing a very substantial international asset management business with a strong focus on creating sustainable and scalable operations.”
Wilson added: “Her practical, collegiate and customer-focused approach will further bolster LGIM’s unique culture, leveraging its strong synergies with the broader L&G Group, and building on the outstanding job ‘Zink’ has done since 2011.”
