Chad Rakvin succeeds Ali Toutounchi as global head of index funds while Eve Finn is to become head of portfolio solutions.
Both Ravkin and Finn will report to head of investment at LGIM Aaron Meder.
Rakvin joined LGIM America in Chicago 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 £275bn of index assets.
The appointment results from the planned retirement of Toutounchi, announced in January 2015. Toutounchi will contune working with LGIM after his retirement in a strategic and advisory capacity.
According to LGIM Finn’s appointment reflects increasing demand from LGIM’s clients for products and solutions that are outcome focused. Over half of LGIM’s £715bn of assets is now managed for targeted outcomes rather than against traditional benchmarks.
“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,” said Meder. “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,” he continued. “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 de-risking 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,” Meder said.
