Legal & General Capital Appoints Ernst & Young's Gareth Mee as CFO
October 19 2021 - 5:20AM
Dow Jones News
By Sabela Ojea
Legal & General Group's Legal & General Capital said
Tuesday that it has appointed Gareth Mee as its new chief financial
officer.
The FTSE 100-listed insurance company's alternative-asset
platform said that Mr. Mee, a partner at Ernst & Young Global
Ltd., will lead its financial operations from January 2022. He will
replace Stephen Halliwell in the role.
Mr. Mee will help the main investment arm of Legal & General
Group generate up to 600 million pounds ($823.7 million) in profit
from alternative assets by 2050, it said.
Legal & General Capital's key targets include growing its
alternative-asset portfolio to GBP5 billion by 2025 and generating
returns of around 10% to 12% a year, across its key focus areas of
housing, small and medium enterprises finance, specialist
commercial real estate and clean energy, it added.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 19, 2021 05:05 ET (09:05 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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