LGIMA Adds LDI Veteran to its Roster

(July 22, 2013) — Legal & General Investment Management America (LGIMA) has bolstered its corporate pension team with a new head of US solutions. 

Jodan Ledford started with the Chicago-based team on July 8. He formerly served as an executive director at UBS Global Asset Management, where he was the business head of liability-driven investing (LDI) strategies. 

“While I was at UBS, there was only one other job that made sense for me or that I wanted,” Ledford told aiCIO. “This one.”

He will report to Aaron Meder, who previously held Ledford’s position and is now global head of the firm’s solutions group.

“Every fixed income provider in the US would say they do LDI,” Meder said, “but we would define what they do as level one of the strategy. Rather than just extending duration and managing money against a blended benchmark, we are pushing to take accountability and liability matching another level. I am very, very excited to work with Jodan on that.”

Ledford’s background in pension risk management predates his tenure at UBS. He has also worked as a pension advisory associate with JP Morgan’s investment banking division, and started his career as an actuarial analyst at Watson Wyatt.

LGIMA is the US arm of Legal & General Investment Management, which is based in London and manages about $600 billion. 

Related Magazine Article: Navigating the LDI Landscape