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Threadneedle Hires Legal & General's Burgess as Chief Investment Officer

Threadneedle Asset Management Ltd., the London-based asset-management unit of Ameriprise Financial Inc., appointed Legal & General Group Plc’s Mark Burgess as its chief investment officer.

Burgess, 45, will start the role in the first quarter of 2011 and will succeed Sarah Arkle, Threadneedle said today in an e-mailed statement. Burgess’s previous post was head of equities at Legal & General Investment Management, the biggest investor in the U.K. stock market.

Burgess, who joined Legal & General in 2003, is the second senior departure from Legal & General Investment Management this year. Chief Executive Officer Peter Chambers said in March he plans to retire by September and a successor hasn’t yet been announced.

“The appointment of such a high-caliber industry figure as Mark Burgess means that we are well positioned to build on Sarah’s impressive legacy,” Threadneedle Chairman Simon Davies said in the statement.

Arkle, who has been CIO for 10 years, will retire in 2011 and become a vice chairman at Threadneedle, the company said.

To contact the reporter on this story: Kevin Crowley in London at kcrowley1@bloomberg.net

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