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Money Management

Legal & General Investment Management names new CEO

Michelle Scrimgeou

Michelle Scrimgeour was named CEO at Legal & General Investment Management, a spokeswoman said Monday.

Ms. Scrimgeour will replace current CEO Mark Zinkula, who will leave in August. A specific start date has yet to be confirmed, LGIM said in a news release. Mr. Zinkula has been CEO since 2011.

Ms. Scrimgeour currently is CEO for Europe, Middle East and Africa at Columbia Threadneedle Investments. A Columbia Threadneedle spokeswoman said she resigned but will remain with the company for the next few months.

"(Ms. Scrimgeour) successes at Columbia Threadneedle, M&G and BlackRock (BLK) clearly demonstrate that she combines a capacity for managing and growing a very substantial international asset management business with a strong focus on creating sustainable and scalable operations," Legal & General CEO Nigel Wilson said in the release.

Ted Truscott, global CEO at Columbia Threadneedle, said in a separate news release: "(Ms. Scrimgeour) will continue to fulfill her regulatory responsibilities and work with me and our regional leadership team to ensure a smooth transition over the next few months as we determine our longer-term plans."

Legal & General has 985 billion ($1.3 trillion) in assets under management as of June 30.