Paul heads up Legal & General Capital, which is responsible for investing Legal & General’s principal balance sheet and was founded in 2013 to help improve shareholders’ returns and accelerate L&G’s growth by increasing the business’ exposure to direct investments. LGC’s four main strategic sectors comprise of UK Housing, UK Urban Regeneration, Alternative Finance and Clean Energy. All of these sectors require long term capital and face reduced bank support. Paul joined L&G in 2009, initially to manage the investment strategy for the Annuity Funds, after expanding his remit to include Treasury, With-Profits, Shareholder Funds and our International businesses. Previously Paul was a Managing Director at Merrill Lynch, providing capital market solutions to UK insurers using derivatives, cash assets and securitisation. Paul has a B.Sc. from UCL, London University and is a Fellow of the Institute of Actuaries.
Laura heads up Legal & General Capital's Direct Investment team, with responsibility for repositioning the Group’s principal portfolio into strategically important direct investments in order to create new institutional asset classes and generate improved high quality earnings for the business. She is also the Head of Urban Regeneration and Energy – two of the strategic sectors in which L&G is planning to spend a further £2bn over the next five years. Having joined Legal & General in 2011, in her previous role as Portfolio Manager for Legal & General’s annuity business Laura helped to significantly increase the Direct Investments in the fund from £0.6bn to £3.0bn.
Karen is the Chief Operating Officer (COO) for LGC. Karen joined Legal & General in 2009 and became part of LGC in 2012. Before joining LGC, she undertook a number of key roles across The Group, including managing the Shared Service Financial Reporting centre and leading the Solvency II Programme. Before joining L&G, Karen was COO for Barclays Wealth IT and prior to that held the role of IT Director for the Private and Internal Bank at Barclays Private Clients. Karen has a PhD from University of London.
Simon is the Chief Risk Officer (CRO) responsible for LGC. Simon’s role is to provide independent feedback, challenge and oversight on all aspects of the business. He has a particular focus on supporting the strategic drive to increase the proportion of Direct Investments in the LGC portfolio. Before joining LGC in October 2013, Simon worked for 26 years at Lloyds Banking Group in a variety of roles, focusing latterly on risk as a Chief Credit Officer supporting the Bank’s Commercial Banking division.
Stephen Halliwell is CFO of LGC, he is responsible for the full finance function of LGC and has a key role in supporting the continued growth of LGC. Stephen joined in August 2016 from 3i Infrastructure plc, the FTSE 250-listed infrastructure business, where he was CFO. Having been at 3i since 1998, Stephen played an integral part in the growth of 3i’s infrastructure business from the IPO of 3i Infrastructure PLC in 2007. Managing the operational, financial and reporting requirements for 3i’s Infrastructure business, with £2.5 billion of assets under management, Stephen also acted as a key interface with the public markets. His experience also includes acting as Group Finance Director for 3i Group during 2009 and 2010. He previously held the position of Head of Financial Planning and Analysis for 3i Group prior to the listing of 3i Infrastructure plc.
James Lidgate is Director of Housing with responsibility for LGC's residential investments and acquisitions. His role is to explore all opportunities to increase L&G’s exposure to the UK’s housing sector, principally in direct investment. With responsibility for the Group’s land assets, investments in the Build to Rent sector and all residential development, James’ mandate is to increase housing supply of all tenures across the UK. James joined LGC 2015, having previously spent almost two years as Head of Residential within Legal & General Investment Management’s Real Assets business. Prior to that, he was Land Director at Bellway Homes, having also previously worked for the Berkeley Group and Laing Homes.
Matteo is responsible for LGC’s Direct Investments in SME Equity, whilst also working across some of LGC’s other sectors. He is a Non-Executive Director of and manages LGC’s Direct Investments in Pemberton Asset Management and Cala Homes. Matteo joined LGC from the private equity firm Terra Firma where he worked for nine years investing in and managing asset backed-businesses. Prior to that, Matteo worked for four years at Morgan Stanley. He graduated from Cambridge University in Mechanical & Manufacturing Engineering and is a Chartered Financial Analyst. Matteo is an English / Italian dual national and also speaks Italian and Japanese.
Rachel works in the Direct Investments team and leads on Urban Regeneration. As well as origination of new opportunities, she is responsible for the management of the existing projects including Media City, Cardiff’s Central Square, Thorpe Park in Leeds, and Bracknell Town Centre. Rachel has 10 years’ experience in the real estate sector and joined Legal & General from Tishman Speyer where she managed a European office fund. Prior to that, Rachel worked in the Managed Accounts Group CBRE Global Investors.
Ronald is Head of Syndication within Legal & General Capital. He establishes and develops frameworks, processes and partnerships to allow LGC to syndicate existing and new direct investments for LGIM clients as well as LGR in support of long term annuity liabilities. Ronald has 12 years’ experience covering multi-asset portfolio investments, risk management, illiquid assets and liability driven investment (LDI) strategies for large institutional investors globally in the UK, EMEA and Asia. He joined from Friends Life Aviva where he worked in Group Investment Strategy helping prepare the Friends Life annuity fund for Solvency 2 Matching Adjustment. Previously, Ron worked for the Alternative Credit Fund at AXA and before that with UBS Delta in London for the best part of a decade.