Legal & General has appointed Paul Miller as managing director at the group’s investment arm, Legal & General Capital.
Miller, who was most recently a group strategy and M&G director at L&G, will lead LGC’s investment activity in a number of areas, including build-to-rent.
He will take up his role on 1 January.
LGC has a £2bn direct investment portfolio and focuses on future cities, housing, venture capital and SME financing. It works closely with other L&G divisions across sectors and industries.
Within build-to-rent, LGC works with L&G Investment Management and provides the development capital to fund new-build developments across the UK. L&G’s goal is to have 6,000 build-to-rent homes in planning, development and operation by the end of 2019.
Nigel Wilson, group chef executive of L&G, praised Miller’s performance and strategic oversight in his previous role, adding: “I am delighted Paul has taken this important role where he will bring these clear strategic and execution skillsets to bear, driving growth in profits and shareholder value by investing patient capital in much-needed housing and business start-ups and scale-ups.”
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