Columbia Threadneedle EMEA Head Scrimgeour Leaves To Join LGIM As CEO

She will continue to work at Columbia Threadneedle during the coming months and work with chief executive officer, Ted Truscott and the rest of the regional leadership team to ensure a smooth transition as the group determines its longer-term plans.

Meanwhile, her appointment as chief executive of Legal & General's £1trn investment management unit follows a comprehensive, global search process for a replacement for outgoing CEO Mark Zinkula.

LGIM siad she will take up her post formally following the completion of regulatory and other formalities and Zinkula will work closely with her to ensure a comprehensive handover before he retires from the company later this year. 

Scrimgeour will also join the board of Legal & General Group on appointment, at which point Zinkula will step down.

She has worked in the asset management industry for 30 years, starting her career at Merrill Lynch Investment Managers before joining BlackRock in 2006 as chief operating officer of international fixed income.

She joined M&G as chief risk officer in 2012 before becoming chief executive for Europe, Middle East and Africa at Columbia Threadneedle Investments, less than two years ago in April 2017.

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Commenting on her resignation, Columbia Threadneedle CEO, Truscott said: "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.

"Her clarity and long-term focus have helped us strengthen our strategic vision for Columbia Threadneedle globally and within the EMEA region. We wish Michelle every success in the future and thank her for her contribution while at Columbia Threadneedle." 

Nigel Wilson, CEO of Legal & General, added: "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.

"Her practical, collegiate and customer-focused approach will further bolster LGIM's unique culture, leveraging its strong synergies with the broader L&G Group, and building on the outstanding job 'Zink' has done since 2011."

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Retiring CEO for LGIM, Mark Zinkula added: "The past several years have been a period of significant transformation and growth for LGIM, guided and driven by our clear sense of purpose and unique culture.

"We are well positioned to continue our measured growth and Michelle is the perfect person to lead LGIM through its next phase. I look forward to working with her during this transition."