Retirement Industry People Moves

Chad Rakvin, head of U.S. Index Funds at Legal & General Investment Management America Inc. (LGIMA), has been promoted to global head of index funds.

In his expanded role Rakvin will oversee the global index business, which encompasses the Chicago, London and Hong Kong teams, managing more than $470 billion of index assets. Rakvin will report to Aaron Meder, head of Investment, Legal & General Investment Management (LGIM), and will be based in London. Rakvin joined LGIMA in 2013 from Northern Trust Global Investments, where he was global equity index director. Since joining LGIMA, he has led the U.S. index fund management business, and has performed a pivotal role in establishing the foundation for growth of this business.

Shaun Murphy, director of Index Funds, has been promoted to head of U.S. Index Funds. Murphy joined LGIMA in 2013 from Northern Trust Global Investments, where he was head of international index equities. He has worked alongside Rakvin for 11 years, helping build LGIMA’s index business. He was instrumental in constructing and launching the Legal & General Collective Investment Trust. The LGIMA index team now manages $64 billion in index assets.

Robert Moore, chief executive of LGIMA, cited Rakvin’s leadership and industry expertise as instrumental in developing and growing the firm’s index business; and Murphy’s expertise and enthusiasm for the business as key elements in a smooth transition.

LGIMA is a Chicago-based investment adviser specializing in index, fixed-income and liability driven investment (LDI) strategies for the U.S. institutional market.