LGIM targets 10% growth over medium term

Legal & General Investment Management (LGIM) is expecting to deliver operating profit growth of between 8% to 10% per annum over the medium term.

Assuming normal market conditions, LGIM said its next stage of growth is based on a strategy consisting of three components:

  1. The continued broadening of its investment capabilities to meet clients’ needs;
  2. Sustained focus on addressing the savings gap through its DC, retail, and personal investing businesses
  3. Further internationalising its core strengths

LGIM plans to provide a detailed look into its growth strategy at an event on Wednesday.

Last month, Mark Zinkula announced he will be retiring from the chief executive position from 31 August 2019. He has been CEO since March 2011.

Industry specialists noted that Helena Morrissey would be the “obvious successor” to him.

Commenting on the strategy, Zinkula (pictured) said: “We have built a fantastic business that is well positioned for the future.

“We have a clear strategy to be one of the global winners in asset management by continuing to expand in the US, Europe, the Gulf and Asia.”

LGIM said the addressable market in global asset management is approximately $80trn (£61trn).

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