Legal & General Investment management unit, the largest pension funds manager in the UK, has promoted the head of its American operations to chief executive as it eyes international business.
Legal & General named Mark Zinkula to head Legal & General Investment Management (LGIM), which has £342bn in funds under management.
Zinkula has been the chief executive of Legal & General Investment Management America (LGIMA) since 2008.
"Mark's appointment as cjief executice of LGIM,...signals the group's ongoing commitment to expand LGIM in international markets," L&G said in a statement.
"Asset management is an increasingly valuable core business for the Legal & General Group," said Tim Breedon, L&G group chief executive.
Zinkula succeeds Kevin Gregory, COO and interim LGIM CEO, who took over in April 2010 after Peter Chambers announced his retirement. Zinkula will report to Breedon.
City A.M. Reporter