Legal & General has appointed Eric Adler as the chief executive of its asset management division.
Adler will join L&G in December from US-based PGIM, Prudential Financial’s global asset manager, where he is President and Chief Executive of its $320 billion private alternatives business.
Prior to that Adler was CEO and Global Chief Investment Officer for PGIM Real Estate, Chair of Private Equity, and Head of European business.
Before joining PGIM in 2010, he was Co-head of Tishman Speyer Europe.
Michelle Scrimgeour, current CEO of LGIM, will in due course step down from her role and leave the business after a handover period.
António Simões, Group CEO of L&G, said: “In June we set out our ambition to deliver sustainable growth, sharper focus and enhanced returns as a simpler, better connected L&G.
“Asset management is the cornerstone of our growth strategy, and highly synergistic with our Institutional Retirement and Retail businesses.
“In a competitive global search, Eric stood out for his growth orientation – bringing a track record of building businesses alongside broad investment expertise, deep international experience, and a strong client focus.”
