Legal & General Investment Management America announces senior hires for Index
CHICAGO, Nov. 4, 2013
CHICAGO, Nov. 4, 2013 /PRNewswire/ -- Legal & General Investment Management
America, Inc. (LGIMA), a Chicago-based registered investment advisor, has
continued to expand its capabilities for managing strategies for the United
States pension and institutional market with two senior index manager hires.
This marks a significant step for LGIMA, whose UK- based affiliate, Legal &
General Investment Management (LGIM) is already a major provider of index fund
management services to clients in Europe and Asia with over $410 billion of
index funds under management as of June 30, 2013.
Chad Rakvin joins as Head of US Index Funds,and will be based in Chicago.
Chad has significant experience in this field and joins from Northern Trust
Global Investments, where he was Managing Director of Global Equity Index.
Chad will have responsibility for developing a US index fund management
Shaun Murphy will join the newly formed US-based index team at the beginning
of December as Index Funds - Director. He joins from Northern Trust Global
Investments, where he was Director of International Equity Index.
Ali Toutounchi, Global Head of Index Funds at LGIM, said, "Index fund
management is a core business for LGIM and has helped us grow to become one of
the world's largest index managers, with more than 2,800 institutional index
clients and more than $410 billion of index assets under management. LGIMA's
new appointments underline the long-termplans andcommitment to the US
market, andstrengthenthe investment solutions that LGIMA provides to US
institutional investors and pension plans with the addition of world class
Mike Craston, CEO of LGIMA, said, "We are delighted to welcome Chad and Shaun
to our firm. We believe market conditions are now right to action our plans to
expand our index offering to the US domestic market. Chad and Shaun will help
us to achieve our ambitions. LGIM has already established a solid track record
in index management and has demonstrated its commitment to clients over 30
years, and now manages funds for many of the largest institutional investors
and pension plans across the globe. This expansion in the US represents a
significant foothold in a major market where there is considerable appetite
for an index manager with our skills and expertise."
For further information, please contact:
Notes to editors:
LEGAL & GENERAL INVESTMENT MANAGEMENT AMERICA
Legal & General Investment Management America, Inc. (LGIMA) is a Chicago-based
registered investment advisor specializing in fixed income and liability
driven investment (LDI) strategies for the US institutional market. As of
September 30, 2013, LGIMA managed over $35 billion in assets. LGIMA was
founded in 2006 and is a wholly-owned subsidiary of Legal & General Investment
Management (Holdings) Ltd., which also owns its affiliates Legal & General
Investment Management Ltd. and LGIM International Ltd. Legal & General's
worldwide assets under management are approximately $600 billion.
Chad Rakvin joins Legal & General Investment Management America in November
2013 as Head of US Index. He joins
fromNorthernTrustGlobalInvestments,where he was Senior Vice President
and Managing Director of Global Equity Index.
Prior to joining Northern Trust in 2004, Mr. Rakvin was a Principal and Head
of Index Research for Barclays Global Investors in San Francisco, where he
oversaw strategies for international and US equities. Previous to his role at
BGI, Mr. Rakvin was the manager of Quantitative Analysis for Dow Jones
Mr. Rakvin received a BS in finance from the Indiana University of
Pennsylvania. He is a CFA charter holder and a member of the CFA Institute.
Shaun Murphy joins Legal & General Investment Management America in December
2013 as Index Funds - Director. He joins from Northern Trust Global
Investments, where he was Director of International Equity Index. Prior to
joining Northern Trust in 2003, Mr. Murphy was an Investment Manager at State
Street Global Advisors.
Mr. Murphy received a BA (Hons) in Business Studies from the University of
Sunderland. He is a CFA charter holder.
SOURCE Legal & General Investment Management America, Inc.
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