MONEY MANAGEMENT

Legal & General Investment Management appoints 3 to lead private credit units

Calum Macphail, Tom Sumpster and Edward Wood have joined Legal & General Investment Management’s private credit business, according to a news release.

Mr. Macphail is head of corporate private credit, Mr. Sumpster is head of infrastructure debt and Mr. Wood is head of U.S. private placements. Messrs. Macphail and Sumpster will be in the London office and Mr. Wood will be based in Chicago.

These new positions are the result of the consolidation of Legal & General’s private credit business into a single operation within its real asset unit. LGIM’s real assets business has £23.2 billion ($28.5 billion) in assets under management.Mr. Macphail was head of private placements at M&G Investments; Mr. Sumpster was a managing director and head of acquisition finance at Royal Bank of Canada; and Mr. Wood was a director in Bank of America Merrill Lynch’s debt private placement group.

Legal & General spokeswoman Olivia Bayless could not be reached by press time for further information.

Richard Miles, spokesman at M&G; Hannah Sloane, spokeswoman at Royal Bank of Canada; and Susan Mccabe, spokeswoman at Bank of America Merrill Lynch, could not be reached by press time.