Legal & General has hired Prudential UK director of portfolio management Martin Brookes to join its investment strategy division.
Brookes joins L&G Capital, which manages investment strategy for the insurer’s annuity, protection and savings businesses, including L&G’s plans to play a greater role in UK housing and infrastructure investment.
Brookes will be director of investment strategy at LGC and will be responsible for delivering investment strategies for L&G’s £56bn principal balance sheet including LGC’s £4.5bn assets.
He previously spent 27 years at Prudential, with asset allocation and oversight responsibility for around £80bn of multi-asset funds including the with-profit life funds, a range of pooled pension target return funds and multi-asset collectives.
LGC managing director Paul Stanworth says: “I am delighted Martin has accepted the role within Legal & General Capital. Investment markets are in the midst of fundamental change and L&G itself is moving into new areas which are critical to grow our businesses. Martin’s experience and integrity will be of huge value to us as we move forward into this exciting phase of L&G’s future.”