Legal & General (L&G) has hired Scottish Widows’ master trust manager to oversee its defined contribution (DC) offerings, which have more than £90bn in assets between them.
Lucy Blanchard-Burton joins the financial services giant as head of master trust and independent governance committee (IGC), responsible for the dedicated team that supports the L&G Mastertrust board and the IGC that oversees the contract-based workplace pensions offering.
At Scottish Widows, Blanchard-Burton was master trust pension manager. She has previously worked at Zedra as a professional trustee and in consultancy roles at Barnett Waddingham and Mercer.
Robert Waugh, independent chair of the L&G Mastertrust trustee board, said: “As the pensions landscape continues to evolve, collaboration and innovation are key. Lucy’s deep experience and insight will strengthen our collective efforts to deliver best-in-class service and value for money for those we serve.”
Joanne Segars, chair of L&G’s IGC, added: “Robust governance that protects members’ interests is an essential part of delivering our obligations as a pension custodian, and Lucy’s proven skillset will be invaluable to us to support good member outcomes and good value for money.”
Lesley-Ann Morgan, global head of DC at L&G, said Blanchard-Burton’s experience would “play a crucial role as we continue to grow and enhance our offering to better serve our members”.
The L&G Mastertrust has £41.9bn in assets under management and manages the pensions of approximately 2.2 million people from more than 400 employers. L&G’s contract-based workplace pensions book has 2.7 million members and £49bn of assets under administration.
