Parent company Legal & General this morning announced via a regulatory filing that Zinkula (pictured) will retire on 31 August 2019.
He has been chief executive since March 2011.
Architas investment director Adrian Lowcock said Morrissey is the “obvious” successor to Zinkula, citing her experience and the fact she would have been at LGIM for several years by the time Zinkula retires next year.
Morrissey joined LGIM as head of personal investing in January 2017, having previously been chief executive for Newton for 15 years.
Lowcock said the move was slightly unexpected at the time.
“You would have expected her to have popped up somewhere as the head of another asset management company. But careers don’t go in straight lines anymore,” he said.
Chelsea Financial Services managing director Darius McDermott said Morrissey has a high profile in the industry and has been a driving force on environmental, social and governance (ESG) issues, which is an area of focus for LGIM.
In May, Morrissey launched LGIM’s Future World Gender in Leadership UK Index fund – the first gender equality passive to focus on UK companies.
McDermott agreed she was an “obvious” candidate to succeed Zinkula.
Passive engagement
LGIM has established its reputation as a lead in both ESG and passive management during Zinkula’s tenure, Lowcock said.
“The reputation of LGIM has grown. It was always well-established as a passive house, but its name has grown a bit more. It’s probably got better kudos and status than it had previously.
“One area they’ve worked hard on has been their reputation on the ESG side.”
He said the asset manager had managed to combine passive ownership with active engagement with holding companies.
While passive is an area of strength for LGIM, it only entered the ETF space in November last year, with the acquisition of Canvas from ETF Securities. Canvas is a Ucits compliant, open architecture platform which houses a diverse range of ETFs.
However, McDermott added LGIM would like to get more profile for its active multi-asset solutions business, which he said is a growth part of the asset manager.
In the regulatory filing announcing his retirement, Zinkula described his leadership as a “period of significant transformation and growth”.
“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.”
Prior to his current role, Zinkula was chief executive of the American branch of LGIM. Before that he was global head of fixed income at Aegon Asset Management.
