Legal & General Investment Management (LGIM) has appoin-ted Ian King as head of active European equi...
Legal & General Investment Management (LGIM) has appoin-ted Ian King as head of active European equities following the departure of the entire team in August 2006.
LGIM's European equity team, headed by former Axa manager Alia Baig, left the group by mutual agreement after failing to turn around performance of the £156m fund within three years.
Other members of the four-strong team who departed were former Credit Suisse European manager Adam Holmes, Maana Ruia and Keith Ellam.
King, who joins from hedge firm KDR Europe, will recruit a new European team. He has more than 17 years' experience of global equity, fixed income and derivative markets, managing European equities for the last six years.
King will join LGIM at the end of January. His immediate task will be to rebuild the Active European equity team with the intention that the European portfolios are returned to active management by the mid year. The portfolio has been reverted to an index tracking mandate in the interim.
King previously worked at American Express Asset Management International for more than 10 years, where he was responsible for European alternative investments from 2000 to 2005, before which he held the role of chief investment strategist. Between 1992 and 1995 he was a portfolio manager with Lehman Brothers Global Asset Management in London. key points
Ian King has taken over running of LGIM's European equities
He will recruit a new active European team
LGIM's European portfolios should return to active management by mid year
Putting the tech into protection
Square Mile’s series of informal interviews
Fallout from Haywood suspension
Launching later in 2019
£80bn funds under calculation