Michelle Scrimgeour, chief executive of Legal and General Investment Management (LGIM), is to step down as the firm merges its asset management divisions.

Adviser support network SimplyBiz has added Legal & General Investment Management’s (LGIM’s) model portfolio service to its risk-controlled investment solutions range.

Legal & General Investment Management has joined the growing ranks of investment providers offering a Model Portfolio Service in response, it says, to rising demand from advisers.

Legal & General Investment Management has launched the L&G European Equity Income Fund, a UK domiciled unit trust.