Legal & General is set to outline a new strategy later today to reach profit growth of between 8% to 10% a year.
The medium-term plan will be presented to investors and analysts at 2pm, and will focus on how Legal & General Investment Management can cash in on the estimated $80trn (£61trn) in untapped market for asset management globally.
The firm says LGIM’s future growth will be achieved through “sustained focus on addressing the savings gap” through its defined contribution, retail, and personal investing businesses, the “continued broadening of investment capabilities to meet clients’ needs” and expanding its core strength more internationally.
No further details of the plan were revealed in the stock exchange announcement this morning.
Group chief executive Nigel Wilson says: “Legal & General is stronger for having a market leading asset manager as part of our group… [we have] developed a broad franchise of growth businesses, a strong and deep leadership team and a high performing investment capability built for the markets of tomorrow.”