Legal & General Investment Management (LGIM) head of wholesale distribution for UK, Europe and Latin America Steven de Vries has exited the firm as part of a wider structural change to the firm’s distribution team.
He joined the firm in 2021 after 19-years at Henderson Global Investors and Janus Henderson.
As part of the restructure, Mark Johnson and Volker Kurr have assumed the roles of head of UK – institutional and wholesale and head of Europe – institutional & wholesale respectively. The pair will be supported by 10 regional distribution leaders across the UK and Europe.
In June, LGIM promoted Ben Cherrington, head of strategic partnerships, to head of UK wholesale after the announcement of James Crossley’s move to Rathbones to become asset management distribution head.
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The firm announced on 12 June that CEO Michelle Scrimgeour is set to step down, while parent company L&G plans to combine its investment division and alts capabilities into a single business.
Kurr said: “We believe that integrated leadership across channels will optimise collaboration and the move to a more regional approach will be to the benefit of our business, our people and our clients.
“How we are organising within the asset management division is part of how we will deliver the strategy that was recently confirmed on 12 June and is designed to deliver sustainable growth, sharper focus and enhanced returns for our clients and investors. It marks the first step in creating the L&G of the future, setting out a vision for a simpler, more synergistic business, dedicated to serving society’s long-term investment and savings needs.
“Having opened offices in key markets across Europe more than a decade ago and grown our team of regional experts to over 50, demonstrates commitment to the region. It also allows us to build on the strong foundations that we continue to have in place in both wholesale and institutional markets and positions us for growth.”
