Legal & General Investments product head Andrew Thomas to depart

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Legal & General Investments head of product development and management Andrew Thomas is set to depart the firm, Fundweb can reveal.

Thomas joined the asset manager from Invesco Perpetual in 2010 and was brought in to help the firm build its unit trust business. He was also a member of L&G Investments’ executive management committee.

He will leave the asset management house at the end of June.

According to his LinkedIn profile, Thomas held responsibility for the range development of L&GI’s Ucits and Nurs funds, which includes active and index strategies across the developed and emerging market equities, fixed income, property, multi-asset and alternative spaces.

He also sits on the IMA’s product development and regulations committee.

Thomas’ departure follows Legal & General’s recent move to roll its unit trust business into L&G Investment Management as part of an internal restructure. LGIM group executive director Mark Zinkula will take on responsibility for the unit trust business under the changes.

Earlier this year, L&G managing director of investments Simon Ellis left the company after three years. He was replaced by Simon Pistell, managing director of the firm’s retail distribution review programme.