LGIM to enhance its existing corporate governance model.
Former Gartmore fund manager Sacha Sadan has joined Legal & General Investment Management (LGIM) and will serve as the firm’s new director of corporate governance.
Sadan is expected to start in his new role on June 6, 2011 and will report to the investment management firm’s interim chief executive, Kevin Gregory.
The appointment highlights LGIM’s ongoing efforts to enhance its corporate governance framework to ‘maximize the value for shareholders and promote good business practice,’ the company says.
According to Gregory, the new head of its corporate governance department is a seasoned governance professional who will provide ‘effective shareholder engagement’ and lead a ‘well-respected team of corporate governance specialists.’
‘Using my hands-on fund management background, with the team’s highly regarded corporate governance expertise, we can continue to make a difference for the benefit of all LGIM clients,’ adds Sadan.
Earlier in the year, Hendersen Global Investors, the asset manager listed in London and Sydney said it had agreed to acquire the Gartmore Group in an all-stock deal that is worth £335 mn.
Reportedly, Gartmore has been at the forefront of a major management reshuffle as last year the firm lost two of its top-level fund managers.
LGIM, which is the asset management branch of the British insurer Legal & General, is responsible for £342 bn pounds in funds under management.
