Legal & General Investment Management has named Australian digital financial services company Bravura as a partner for its expanding digital investment offering.
The company said in a statement that Legal & General Unit Trust Managers has signed a long-term contract to use Bravura’s Sonata, as its “next-generation wealth management solution”, with LGIM – the investment management arm of Legal & General Group – looking after the investment side
Bravura Solutions said that the strategic partnership with Bravura will allow LGIM continue its digital transformation plans – spearheaded by Helena Morrissey – with Sonata providing “the flexibility required for accelerated product development and delivery for the personal investing” and other selected businesses.
Morrissey, pictured above, surprised many in the industry last year when, as reported, she quit her high profile investment role, as CEO of investment company Newton, after 15 years, to take up a head of personal investing at LGIM.
“LGIM has deep expertise in delivering diverse and innovative client solutions, ” said Morrissey, “After a comprehensive review of the market, Bravura emerged as the right partner to help us on our digital transformation journey, with their ability to combine compelling functionality with modern technology.
“Sonata will play a key role as we continue to expand our digital and product capabilities across multiple channels, ensuring that our client’s changing needs and expectations remain central to ourofferings.”
Tony Klim, group CEO and MD at Bravura Solutions, said: “We have a strong and long-standing relationship with LGIM and are delighted to be working with them in a greater capacity on this new and exciting delivery.
Legal & General is a FTSE 100 company and one of Europe’s largest asset managers, with assets under management of £983.3bn (according to company statistics, as at 31 December 2017).