Legal & General yesterday named Peter Chambers as its investment chief in a move that will see more of the insurer’s top fund managers running hedge funds.
L&G is the biggest shareholder in the FTSE 100 and Mr Chambers said his main priorities would be expanding the company’s index tracking and fixed interest businesses.
However, he said he would be keen for more of the company’s active money managers to run hedge funds alongside their existing funds.
The concept was embraced by both Gartmore and Framlington, his previous employers and, despite the company’s recent difficulties, Gartmore now has a sizeable hedge fund business.
