Legal and General Investments’ Robert Churchlow has left the firm after 10 years following his removal from the underperforming L&G Growth and UK Absolute funds.
Mr Churchlow was taken off the funds last month but L&G initially refused to say whether he was still employed by the company.
In addition, L&G North American fund manager Melanie Jenner has left L&G after she was also removed from her fund last month.
Lloyd Branford, who was replaced by Paul Hillsey on the L&G Pacific Growth fund, is still “in discussions” with the group, a spokesperson said.
The L&G Growth, North American and Pacific Growth funds have all ranked in the third or fourth quartiles of their respective sectors across one, three and five year periods, according to FE Analytics.
Speaking to Investment Adviser last week L&G managing director Simon Pistell said: “We don’t want to be in the position where we have that performance track record.”
Mr Churchlow was replaced as head of active equity last September by Lance Phillips, becoming head of UK equity.