Legal & General Investment Management America announces senior hires for Index Funds business

CHICAGO, Nov. 4, 2013 /PRNewswire/ -- Legal & General Investment Management America, Inc. (LGIMA), a Chicago-based registered investment advisor, has continued to expand its capabilities for managing strategies for the United States pension and institutional market with two senior index manager hires. This marks a significant step for LGIMA, whose UK- based affiliate, Legal & General Investment Management (LGIM) is already a major provider of index fund management services to clients in Europe and Asia with over $410 billion of index funds under management as of June 30, 2013.

Chad Rakvin joins as Head of US Index Funds, and will be based in Chicago. Chad has significant experience in this field and joins from Northern Trust Global Investments, where he was Managing Director of Global Equity Index. Chad will have responsibility for developing a US index fund management business.

Shaun Murphy will join the newly formed US-based index team at the beginning of December as Index Funds - Director. He joins from Northern Trust Global Investments, where he was Director of International Equity Index.

Ali Toutounchi, Global Head of Index Funds at LGIM, said, "Index fund management is a core business for LGIM and has helped us grow to become one of the world's largest index managers, with more than 2,800 institutional index clients and more than $410 billion of index assets under management. LGIMA's new appointments underline the long-term plans and commitment to the US market, and strengthen the investment solutions that LGIMA provides to US institutional investors and pension plans with the addition of world class index capabilities."

Mike Craston, CEO of LGIMA, said, "We are delighted to welcome Chad and Shaun to our firm. We believe market conditions are now right to action our plans to expand our index offering to the US domestic market. Chad and Shaun will help us to achieve our ambitions. LGIM has already established a solid track record in index management and has demonstrated its commitment to clients over 30 years, and now manages funds for many of the largest institutional investors and pension plans across the globe. This expansion in the US represents a significant foothold in a major market where there is considerable appetite for an index manager with our skills and expertise."

For further information, please contact:

Michael Boonshoft
RF Binder
1-212-994-7538
[email protected]

Notes to editors:

LEGAL & GENERAL INVESTMENT MANAGEMENT AMERICA

Legal & General Investment Management America, Inc. (LGIMA) is a Chicago-based registered investment advisor specializing in fixed income and liability driven investment (LDI) strategies for the US institutional market. As of September 30, 2013, LGIMA managed over $35 billion in assets. LGIMA was founded in 2006 and is a wholly-owned subsidiary of Legal & General Investment Management (Holdings) Ltd., which also owns its affiliates Legal & General Investment Management Ltd. and LGIM International Ltd. Legal & General's worldwide assets under management are approximately $600 billion.

Biographies

Chad Rakvin

Chad Rakvin joins Legal & General Investment Management America in November 2013 as Head of US Index.  He joins from Northern Trust Global Investments, where he was Senior Vice President  and Managing Director of Global Equity Index.

Prior to joining Northern Trust in 2004, Mr. Rakvin was a Principal and Head of Index Research for Barclays Global Investors in San Francisco, where he oversaw strategies for international and US equities. Previous to his role at BGI, Mr. Rakvin was the manager of Quantitative Analysis for Dow Jones Indexes.

Mr. Rakvin received a BS in finance from the Indiana University of Pennsylvania. He is a CFA charter holder and a member of the CFA Institute.

Shaun Murphy

Shaun Murphy joins Legal & General Investment Management America in December 2013 as Index Funds - Director. He joins from Northern Trust Global Investments, where he was Director of International Equity Index. Prior to joining Northern Trust in 2003, Mr. Murphy was an Investment Manager at State Street Global Advisors.

Mr. Murphy received a BA (Hons) in Business Studies from the University of Sunderland. He is a CFA charter holder.

SOURCE Legal & General Investment Management America, Inc.