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    LGEN   GB0005603997

LEGAL & GENERAL PLC

(LGEN)
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Legal & General : LGIM appoints State Street to provide Charles River Technology and Middle Office Services

07/14/2021 | 05:03am EDT

14 Jul 2021

Legal & General Investment Management (LGIM) announces that it is extending its existing partnership with State Street by expanding its usage of Charles River technology and to deliver middle office servicing.

This appointment of State Street, as well as the expansion of our use of Charles River technology across a number of our investment management services in the UK, America, Asia and Europe will enable us to offer a more automated, consistent and seamless way for all our clients to do business with us from all over the world.

The main impact of this transaction will be to improve LGIM's operational scalability - we expect it to be financially neutral. LGIM's financial ambitions remain as stated in previous market guidance.

This continues our evolution of building a market-leading, scalable global operating model to deliver best in class service to our clients and make it easier for them to do business with us.

Brenda Sklar, Chief Operating Officer

We are thrilled that LGIM is expanding its partnership with State Street to improve its global operating model by further leveraging Charles River and committing to our State Street Alpha services platform.

John Plansky, Head of State Street Alpha

Further information

Disclaimer

Legal & General Group plc published this content on 14 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2021 09:02:02 UTC.


ę Publicnow 2021
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Financials
Sales 2021 59 567 M 81 345 M 81 345 M
Net income 2021 1 979 M 2 703 M 2 703 M
Net Debt 2021 1 114 M 1 521 M 1 521 M
P/E ratio 2021 8,40x
Yield 2021 6,55%
Capitalization 15 952 M 21 814 M 21 784 M
EV / Sales 2021 0,29x
EV / Sales 2022 0,25x
Nbr of Employees 10 099
Free-Float 97,3%
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 280,00 GBX
Average target price 318,81 GBX
Spread / Average Target 13,9%
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Managers and Directors
Nigel David Wilson Group Chief Executive Officer & Executive Director
Jeff Davies Group Chief Financial Officer & Executive Director
John Kingman Chairman
Lesley Mary Samuel Knox Independent Non-Executive Director
Philip Arthur John Broadley Senior Independent Director
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