Columbia Threadneedle’s chief executive officer for Europe, the Middle East and Africa Michelle Scrimgeour has resigned to join Legal and General Investment Management as chief executive officer,
She will be succeeding Mark Zinkula who will retire in August.
LGIM says the specific retirement and appointment dates will be confirmed in due course.
Scrimgeour will also be executive director of the Legal and General group when she joins in the next few months.
She has been in her current position since April 2017. Prior to joining Columbia Threadneedle, she was chief risk officer at M&G and on the executive committee at Blackrock.
She is on the board of the Investment Association and also a member of the FCA Practitioner Panel, one of a number of industry panels that advise the regulator.
Columbia Threadneedle confirmed she will continue in her role and will fulfil all regulatory responsibilities while working to ensure a “smooth transition” as the group determines its longer-term plans.
Columbia chief executive officer Ted Truscott says: “During her time at Columbia Threadneedle, Michelle led our EMEA business through a period of change and challenge, as we responded to the evolving needs of our clients, regulatory changes and an uncertain political and economic backdrop.”
L&G chief Nigel Wilson adds: “I am delighted Michelle is joining us to lead the next phase of LGIM’s growth both with our existing UK clients and internationally. Her successes at Columbia Threadneedle, M&G and Blackrock clearly demonstrate that she combines a capacity for managing and growing a very substantial international asset management business with a strong focus on creating sustainable and scalable operations.”