Columbia Threadneedle's Scrimgeour takes the helm at LGIM

Columbia Threadneedle's Scrimgeour takes the helm at LGIM

Legal and General Investment Management (LGIM) is to hire Michelle Scrimgeour as its chief executive.

Ms Scrimgeour has resigned from her role as chief executive of Columbia Threadneedle EMEA in order to take up the new role.

LGIM is one of the largest investment houses in Europe, managing close to £1trn in assets.

The company had announced in May 2018 that its chief executive Mark Zinkula was to stand down on or before August 2019.

Ms Scrimgeour has worked at Columbia Threadneedle for less than two years, and prior to that was employed at M&G as chief risk officer, BlackRock as chief operating officer of international fixed income, and prior to that at Merrill Lynch.

Confirming the decision to hire Ms Scrimgeour, Nigel Wilson, chief executive of Legal and General, said: "I am delighted Michelle is joining us to lead the next phase of LGIM's growth both with our existing UK clients and internationally.

"Her successes at Columbia Threadneedle, M&G and Blackrock clearly demonstrate that she combines a capacity for managing and growing a very substantial international asset management business with a strong focus on creating sustainable and scalable operations.

"Her practical, collegiate and customer-focused approach will further bolster LGIM's unique culture, leveraging its strong synergies with the broader L&G Group, and building on the outstanding job 'Zink' has done since 2011."

Ted Truscott, chief executive at Columbia Threadneedle, added: "During her time at Columbia Threadneedle Michelle led our EMEA business through a period of change and challenge, as we responded to the evolving needs of our clients, regulatory changes and an uncertain political and economic backdrop.

"Her clarity and long-term focus have helped us strengthen our strategic vision for Columbia Threadneedle globally and within the EMEA region. We wish Michelle every success in the future and thank her for her contribution while at Columbia Threadneedle."

He confirmed that Ms Scrimgeour will remain with Columbia Threadneedle for months as part of a handover to a successor, and will continue to fulfil her regulatory responsibilities.