L&G has appointed Rob Groves as chief investment officer of its institutional retirement business.
Groves joins from Pension Insurance Corporation where he was CIO and an executive committee member.
In this new role Groves will lead L&G’s global investment strategy and portfolio management for the institutional retirement business, supporting secure, long‑term outcomes for around 800,000 customers, and helping trustees and sponsors access scale, strong governance and dependable delivery.
L&G CEO of institutional retirement Gareth Mee says: “Institutional Retirement combines pension risk transfer expertise with a disciplined investment engine built to operate at scale, and we are very pleased to welcome [Groves] to lead this next phase.”
Mee adds: “Groves brings extensive experience of running large insurer portfolios, and his appointment strengthens L&G’s ability to grow the business while continuing to deploy pension capital into long‑term investments that generate secure income for the pensions we look after and support the wider economy.”
Rob Groves, incoming CIO, institutional retirement adds: “L&G has a long‑standing, disciplined approach to investing against pension liabilities, supported by scale, strong governance and a clear long‑term focus.”