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L&G considers offloading investment arm, say reports

Legal & General is considering a sale of all or part of its asset management arm, according to reports.

According to a report in the Daily Mail this weekend, L&G chief executive Tim Breedon may look to offload Legal & General Investment Management which totals around £260bn to bolster capital for the group.

It follows the news at the end of last month from L&G that is was making 200 job cuts within its UK risk division after a swath of other redundancies made earlier this year.

Legal & General refused to comment on its plans for LGIM.

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