LGIM Real Assets’ director of business development has resigned after 18 years with the firm to start up a new investment management business.
Charlie Walker is to leave the fund manager next month to join forces with Mike Morrison, who left his position as director Fidelity International earlier this year.
The new business is expected to focus on fund and asset management and client solutions, initially in the UK but ultimately further afield as it grows.
It will look to manage segregated mandates with specific investment programs.
Walker has been at the helm of product development for Legal & General’s property business since he was appointed to his current role in 2011.
He launched and was the fund manager of L&G’s UK Property Income Fund I and II, which had £300m and £610m of buying power respectively.
Previously at L&G, he was responsible for securing and managing some of its largest segregated mandates and growing its pooled pension fund from £90m to close to £1bn.
He first joined the company from Bidwells in 2000 as an asset manager of its life fund.
Morrison was with Fidelity for three years and was predominantly involved with investing and managing its European debt fund.
Prior to Fidelity, Morrison was a partner in Cushman & Wakefield’s corporate finance team, where he was responsible for equity raising and advising on the formation of joint ventures.
A Legal & General spokesman said: “After 18 years with Legal & General, Charlie Walker has decided to leave the business in order to pursue new interests. He leaves with our very best wishes for his future plans.
“Charlie has been an important part of the team driving the growth of the business and also running various investment strategies in partnership with our clients.
“Bill Hughes, head of real assets, and Michael Barrie, director of real estate fund management, LGIM Real Assets, will work with the real assets team to manage a seamless transition and handover of his responsibilities over the next month.”
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