LONDON (Alliance News) - Legal & General Group PLC said Monday it has hired Michelle Scrimgeour as chief executive of its investment management unit.
She will also take up a role on the FTSE 100-listed financial services company's board as executive director.
Scrimgeour will replace outgoing unit head Mark Zinkula, who is retiring in August. Scrimgeour will take up her post formally following the completion of regulatory checks and will work with Zinkula to ensure a "comprehensive handover" before he retires.
The specific dates of Scrimgeour's appointment and Zinkula's retirement will be confirmed in due course.
Currently, Scrimgeour is head of Columbia Threadneedle Investments' Europe, Middle East & Africa unit. Columbia Threadneedle is the global asset management arm of US financial services giant Ameriprise Financial Inc.
Legal & General currently has GBP984.8 billion total assets under management.
Shares in Legal & General were up 0.6% at 273.40 pence each.
Legal & General (LGEN)