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On 24th September, Legal & General Group (LSE:LGEN) announced the appointment of Eric Adler as the new Chief Executive Officer of its Asset Management division. This move is part of L&G's strategic plan to integrate its public and private markets into a unified global asset management business. Adler will officially join the Group Management Committee in December, subject to regulatory approval.
Key Highlights:
- Growth Target: L&G aims to achieve asset management operating profits of £500-600 million by 2028 and grow its private markets platform from £52 billion to £85 billion.
- Leadership Background: Adler currently serves as the President and CEO of PGIM's $320 billion Private Alternatives business at Prudential Financial, where he led investments across private credit, real estate, infrastructure, and private equity.
- Industry Experience: Before joining PGIM in 2010, Adler held roles such as Co-head of Tishman Speyer Europe and CEO of PGIM Real Estate.
Adler will succeed Michelle Scrimgeour, who will step down after a handover period. This leadership change is crucial for advancing L&G’s long-term strategy in asset management and expanding its presence in private markets.
