Mean on green: LGIM oust four companies over ‘insufficient’ climate commitments June 15, 2021 One of London’s oldest fund managers Legal & General Investment Management has said today it will exclude four companies from some of its funds over their “insufficient” climate change response. US insurance giant AIG, the most notable of the divested companies, joins Chinese lender Industrial and Commercial Bank of China, US utility company PPL Corporation [...]
Legal & General Investment Management joins Shell’s shareholder rebellion May 24, 2021 One of London’s oldest fund managers, Legal & General Investment Management (LGIM), has been revealed to have joined the shareholder rebellion today against Shell’s climate strategy last week, according to reports. Saying that the energy giant’s plans lacked credibility and the ambition needed to tackle climate change, LGIM voted against Shell’s climate transition targets, the [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 12, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Capital Group strengthens UK sales team Investment firm Capital Group, which has £1.7 trillion assets under management, has expanded its UK financial intermediaries team this week by hiring a new managing [...]
Legal & General: Jobs and affordable housing must be ‘centrepiece’ of levelling up agenda April 19, 2021 The provision of jobs and good quality affordable housing will define the UK’s Covid recovery, according to a new report. The Legal & General Rebuilding Britain Index (RBI), launched today, shows that measures to support the UK’s recovery cannot be unform, with different regions and communities needing to level-up in different ways. According to the [...]
Legal & General confident in long-term goals despite 2020 profit dip March 10, 2021 Legal & General today reported a drop in full year profits but the firm said it remained on course to meet its five-year ambitions. The London-based asset manager said operating profit fell three per cent to £2.2bn, while pre-tax profit was down 12 per cent to £1.6bn. The company said the drop reflected the impact [...]
Legal & General shares fall after insurer scales back dividend plans due to Covid-19 November 12, 2020 Shares in Legal & General fell today after the insurance giant kept its final dividend payment for 2020 flat due the impact of the coronavirus pandemic and cut its five-year dividend growth target. In an update to the stock exchange this morning, Legal & General said it had delivered a “resilient” performance so far this [...]
Fidelity acquires LGIM’s personal investing business October 23, 2020 Fidelity has acquired Legal and General Investment Management’s personal investing business for an undisclosed sum. The business will now form part of Fidelity’s own personal investing platform and will more than double its current 280,000 customers on the platform, which has £20.3bn in assets under management. LGIM’s UK personal investing business has £5.8bn in assets [...]
Insurance: Hiscox, Aviva, RSA and Direct Line suspend dividends following Bank of England pressure April 8, 2020 Insurance companies Hiscox, RSA, Aviva and Direct Line have this morning announced the suspension of their dividends after regulatory pressure from the Bank of England. Sam Woods, deputy governor of the Bank’s Prudential Regulatory Authority wrote to chief executives of major insurers on 31 March asking them to “pay close attention to the need to [...]
Investment giant Legal & General to vote against combined chair and chief executive roles February 3, 2020 Legal & General’s investment arm will vote against combined chief executive and board chairman roles globally, taking on business giants including Facebook’s Mark Zuckerberg and Blackrock’s Larry Fink. Legal & General Investment Management (LGIM), one of the largest investment companies in the world with over £1 trillion under management, announced the change as part of [...]
Legal & General boosts profit and revenue in first half of 2019 August 7, 2019 Legal & General boosted profit and revenue in the first half of 2019, as it said the UK represents an “enormous opportunity” for its growing pensions market. The figures The insurer saw profit before tax rise 12 per cent year on year to hit £1bn in the six months to June. Earnings per share grew in [...]