Legal & General Investment Management’s (Lgim) managing director of index funds is set to retire as it restructures a number of senior positions.
Ali Toutounchi, managing director of index funds, is set to retire at the end of the year after being with the group since 1995.
Lgim has yet to appoint a successor but said Mr Toutounchi would work with Aaron Meder and cheif executive Mark Zinkula to identify a replacement.
Mr Meder, who was previously global head of solutions, will now be head of investment. This new role will lead all of LGIM’s investment teams, except for real assets like property and infrastructure.
Real assets will be looked after by Bill Hughes, previously managing director of property, who has been appointed to a new role, head of real assets.
Elsewhere, Sarah Aitken will take on Mike Craston’s role as head of distribution as Mr Craston becomes vice chairman of LGIM America, focusing on expanding the firm’s US business.
Ms Aitken joined the firm in September last year as the head of institutional business for Europe and the Middle East. She will now lead all distribution, institutional and retail, for Europe, the Middle East and Asia.
Meanwhile, Roger Bartley, previously head of fixed income, will become vice chairman. He will work closely with Mark Zinkula, the chief executive to grow the business in new markets and distribution channels.
