Chief executive of Legal & General’s investment management business (LGIM), Mark Zinkula, is to retire from his position in August next year, the firm’s board has announced.
In a note to investors published this morning (31 May) the group said Mr Zinkula will leave the company on 31 August 2019 after more than eight years at the helm.
The former CEO of Legal & General Investment Management America (LGIMA) was appointed to LGIM in March 2011 and to the group board of L&G in September 2012.
Prior to his position at LGIMA he served as global head of fixed income at Aegon Asset Management.
Mr Zinkula said: "Leading LGIM over the past several years, a period of significant transformation and growth, has been a real privilege.
“It has been a pleasure to work with such committed colleagues at LGIM and I'm proud of what our talented leadership team has accomplished.
“We are well positioned for the future and I believe next year will be the right time to step down. By giving notice now, we will have ample time to plan for my successor."
L&G said it will commence a process to appoint the CEO’s successor in due course.
Nigel Wilson, group chief executive, said: "Mark is and has been a first class CEO of LGIM and a terrific colleague. LGIM is in great shape and now manages just under £1trn of AuM.
“I look forward to working with him in this next phase, building on this success, and in due course the appointment of his successor.”
In May LGIM announced it has opened an office in Dublin to seek to protect investors from the impact of Brexit.
The move will see European clients of the firm's UK funds have their investments managed from there.