Legal & General Investment Management (LGIM) has announced two new senior appointments. Chad Rakvin (pictured) succeeds Ali Toutounchi as Global Head of Index Funds and Eve Finn is appointed to the new role of Head of Portfolio Solutions.
Both roles will report to Aaron Meder, Head of Investment at LGIM.
Rakvin joined Chicago-based LGIM America (LGIMA) as Head of US Index Funds in 2013. In his new UK- based role he will lead LGIM’s London, Chicago and Hong Kong index teams, managing circa GBP275 billion of index assets.
Rakvin’s appointment follows the planned retirement of Ali Toutounchi, Global Head of Index Funds, announced in January 2015. Toutounchi will continue to be associated with LGIM after his retirement in a strategic and advisory capacity, enabling LGIM and its clients to benefit from his significant expertise and experience.
Finn joined LGIM in 2009. Her appointment reflects the increasing demand from LGIM’s clients for products and solutions that are focused on delivering desired outcomes spanning the full range of the company’s expertise. Over half of LGIM’s GBP715 billion of assets is now managed for targeted outcomes rather than against traditional benchmarks.
The appointments are subject to appropriate approvals. Aaron Meder, Head of Investment, says: “Chad has performed a pivotal role in establishing the foundations of our significant growth in the US market where we now manage in excess of $64 billion in index assets.
“As we continue to grow in international markets, it is key that we have a strong leader with a global vision for our overall index business. Succession to Ali has been a core focus for us since we first brought Chad into our US business.
“Eve will expand her responsibilities from engaging with our major LDI clients on derisking solutions, to one that brings together the best of LGIM’s front office investment capabilities in delivering investment solutions to our institutional and retail clients.
“I look forward to working more closely with Chad and Eve as we continue our build of a ‘best in class’ global asset management business.”