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Mark Zinkula to step down as Legal & General Investment Management CEO
Legal & General Group announced on Thursday that Mark Zinkula, chief executive officer of LGIM, had advised the board of his intention to retire from the company in August next year.
The FTSE 100 firm said Zinkula was appointed to the position of chief executive of LGIM in March 2011, and was appointed to the group board of Legal & General in September 2012.
It said it would commence a process to appoint his successor in due course.
"Leading LGIM over the past several years, a period of significant transformation and growth, has been a real privilege," said Mark Zinkula.
"It has been a pleasure to work with such committed colleagues at LGIM and I'm proud of what our talented leadership team has accomplished."
Zinkula said it had created a "truly unique, collaborative and client-focussed" culture, which had driven the successful expansion of the business.
"We are well positioned for the future and I believe next year will be the right time to step down.
"By giving notice now, we will have ample time to plan for my successor."
Nigel Wilson, group chief executive of Legal & General, said Zinkula was a "first class CEO" of LGIM and a "terrific" colleague.
"LGIM is in great shape and now manages just under £1trn of assets under management," he explained.
"I am very grateful for his excellent stewardship.
"I look forward to working with him in this next phase, building on this success, and in due course the appointment of his successor."