Over the past few years we have witnessed a significant shift in the way that companies approach managing their pension fund assets and liabilities.
In the UK, Europe and the US many organisations have looked to de-risk their asset portfolios. We believe this trend will continue to accelerate.
Legal & General is committed to being a leader in the provision of fully integrated risk management solutions. We continue to focus on providing solutions to clients through LDI strategies developed by Legal & General Investment Management (LGIM) and buy-out and longevity contracts provided by Legal & General's Annuity business.
As part of the evolution of this strategy, Kerrigan Procter, Head of Solutions Group, LGIM, has moved to the role of Managing Director Annuities, reporting to John Pollock, Executive Director, Protection and Annuities. Kerrigan succeeds Simon Gadd, who was recently appointed Chief Risk Officer. Kerrigan remains a member of the LGIM Holdings Board and will continue to work closely with LGIM.
Aaron Meder, Head of US Pension Solutions for Legal & General Investment Management America (LGIMA), has been promoted to Global Head of Solutions Group, succeeding Kerrigan. Aaron will report to Mark Zinkula, CEO, LGIM.
Aaron joined LGIMA in 2010 as Head of US Pension Solutions. He has been responsible for the construction and management of customised investment solutions, including LDI, for US pension clients and has had a critical role in the successful expansion of the US business. Prior to joining LGIMA, Aaron was a Managing Director and Head of Asset-Liability Investment Solutions, Americas for UBS Global Asset Management and has previously held roles with both Towers Perrin and Watson Wyatt Worldwide. Aaron is a CFA charterholder, FSA and EA. He holds a BS in Actuarial Science from the University of Illinois and an MBA from the J.L. Kellogg Graduate School of Management.
Mark Zinkula CEO, commented,
"Kerrigan's leadership and expertise have been instrumental in growing LGIM's Solutions business and I am confident that he will show the same level of commitment and focus to the Annuities business. I look forward to working with Kerrigan in his new capacity and believe this move strengthens our overall business, enhancing our ability to create end-to-end solutions for pension schemes looking to de-risk.
Aaron Meder is the natural successor to Kerrigan and I am pleased to promote him to the role of Global Head of Solutions. Aaron has played a pivotal role in the success of the US LDI business and has a wealth of experience. Aaron's strategic vision will help drive our business growth and enable LGIM to continue to deliver solutions tailored to our clients' investment objectives".
