9th September 2015 - Legal & General Investment Management (LGIM) has announced that Chad Rakvin will succeed Ali Toutounchi as Global Head of Index Funds.
Chad joined Chicago-based LGIM America (LGIMA) as Head of US Index Funds in 2013. In his new UK-based role he will lead LGIM’s London, Chicago and Hong Kong index teams, managing around £275 billion of index assets.
His appointment follows the planned retirement of Ali Toutounchi, which was announced earlier this year. Ali will continue to be associated with LGIM after his retirement in a strategic and advisory capacity.
Juliet Schooling Latter, research director at Chelsea, commented: “I don't normally pay much attention to index funds as my job is to find the best active managers for our clients. However, a number of Legal & General's index funds have made regular appearances in our RedZone, which highlights consistent underperformers, so this change caught my eye. It will be interesting to see if Chad can do anything to improve their lot compared with other passive vehicles.”