Legal & General Investment Management has added to its UK fund management board with the appointment of Professor Andrew David Clare and Eimear Cowhey as independent non-executive directors (iNEDS).
Their appointments fulfil the Financial Conduct Authority’s requirement for authorised fund management companies to appoint a minimum of two iNEDs. Clare and Cowhey join the four existing directors on the board, chaired by Ali Toutounchi.
Clare is professor of asset management at Cass Business School in London, with experience working with pension schemes and investment management firms. He currently holds advisory positions, including trustee and chair of Magnox pension plan’s investment committee, and is also member of the International Advisory Board for Fund Selection.
Cowhey has over 25 years’ experience in the investment industry, including roles at Pioneer and Invesco Perpetual.
A qualified solicitor in Ireland, Cowhey has been chairman and council member of Irish Funds, the country’s industry association, and was also a member of the Committee on Collective Investment Governance set up by the Irish central bank in 2013.
Their appointments have been welcomed by LGIM’s chief executive Michelle Scrimgeour. “Their longstanding industry expertise, in particular, Andrew’s academic research on investment combined with Eimear’s regulatory and governance background will be a great support as we further strengthen our reporting frameworks and ensure best practice in demonstrating value to our clients.”
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