Jesal Mistry is set to leave Legal & General’s (L&G) asset management business after six years.
Mistry joined Legal & General Investment Management (LGIM) in 2019 as senior business development director and held a variety of roles at the firm, most recently as head of defined contribution (DC) investment proposition and governance.
He has also helped the business navigate the Mansion House agenda driven by the UK government, of which L&G became a founding signatory back in July 2023. Mistry said that was a natural step for the business, which has been exploring private markets for some time.
Throughout his time at LGIM, Mistry has been a vocal advocate of private markets, speaking of why pension schemes should invest in private markets and why it can work, while also raising concerns where the government agenda risked contradicting what pension funds are trying to achieve, such as concerns over potential investment mandation.
L&G has not shared the exact date Mistry is set to leave the organisation, but has confirmed he will be working with the DC distribution team over the coming months to “support this transition”.
An L&G spokesperson said: “We would like to thank Jesal for his contribution to our business over his six years at L&G,” adding that Mistry “has helped to open up new investment opportunities for our 5.6 million DC members, including through the launch of our market-leading Private Markets Access Fund, Lifetime Advantage funds and Shariah investment proposition”.
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