Willem Klijnstra and Chris Jeffery will join Legal & General Investment Management's asset allocation team in newly created roles as part of a team expansion, confirmed a spokesman for LGIM.
Both join the £433 billion ($711 billion) money manager as strategists within the tactical asset allocation research and strategy division.
Mr. Klijnstra was previously head of research and acting chief investment officer within BNP Paribas Investment Partners' multiasset solutions team, and Mr. Jeffery was a senior tactical asset allocation strategist in that team.
“(Messrs. Klijnstra and Jeffery) will join the team that develops themes and ideas that are central to our macro-driven investment process,” said Emiel van den Heiligenberg, head of asset allocation at LGIM, in a news release.
“We are currently actively looking to replace (Messrs. Klijnstra and Jeffery), at the same time as using their departure as an opportunity to further review and refine the setup and composition of the multiasset solutions team,” said a spokeswoman for BNP Paribas Investment Partners.
In the interim, William De Vijlder, vice chairman, takes on responsibility for the tactical asset allocation research and strategies team and the asset allocation investment process, she said.