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Money Management

LGIM names new head of fiduciary distribution

Lisa Purdy

Lisa Purdy was named head of fiduciary distribution at Legal & General Investment Management, a spokeswoman said in an email.

The role is new. Ms. Purdy is responsible for increasing LGIM's fiduciary business, also known as its outsourced CIO business, with existing and potential clients. She reports to Mark Johnson, head of institutional clients.

"Our clients are increasingly looking to us for fiduciary management support as their governance burden grows," Mr. Johnson said in a news release. "We are delighted to welcome (Ms. Purdy) who has a wealth of experience and we are confident our fiduciary business will go from strength to strength."

Mr. Johnson said the U.K. fiduciary market, estimated to reach 375 billion ($498 billion) by 2027, is a "significant growth opportunity" for LGIM.

Ms. Purdy was previously corporate pensions director at Lloyds Bank.