The latest investor updates on stocks that are trending on Wednesday.
Insurance and asset management group’s new chief promises a ‘simpler’ business, focused on three divisions
British life insurer Legal & General is planning a 200 million pound ($254.9 million) share buyback and a merger of its investment units, it said on Wednesday as it looks to boost returns, though the changes disappointed investors. L&G will combine Legal & General Investment Management, one of the biggest investors in the UK stock market, and its alternative asset platform Legal & General Capital, it said in a statement ahead of a capital markets day outlining its new strategy. LGIM CEO Michelle Scrimgeour will step down following the changes, L&G said.