MONEY MANAGEMENT

Legal & General Investment Management recruits head of institutional client management

Mark Johnson was named head of institutional client management at Legal & General Investment Management, said a spokeswoman.

Mr. Johnson will replace Chris DeMarco in September. Mr. DeMarco transferred internally to join Legal & General’s insurance business as managing director of U.K. pensions risk transfer earlier this year, the spokeswoman added.

Mr. Johnson will oversee institutional client relationships in the U.K. He will report to Sarah Aitken, head of distribution.

Mr. Johnson will join from BlackRock (BLK) where he is managing director, closed-end funds. A spokesman was not available to comment on a replacement by press time.

LGIM has £902 billion ($1.15 trillion) in assets under management.