Legal & General Group has appointed Eric Adler as chief executive officer of asset management, subject to regulatory approval.
The hire is part of the group's plans to bring together its public and private markets businesses under a "unified global asset manager", the firm explained in a stock exchange notice today (24 September). Race for private markets M&A: Traditional asset managers face list of hurdles in making tie-ups pay L&G has more then £1.1trn in assets under management and is targeting asset management operating profits of £500-600m by 2028, while aiming to grow the private markets platform from £52bn to £85bn. Adler joins from PGIM where he is president and CEO of the private alternatives busi...
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