L&G has appointed Rob Groves as chief investment officer (CIO) of its institutional retirement business.
In his role, Groves will lead global investment strategy and portfolio management for L&G’s institutional retirement business, supporting secure, long term outcomes for c.800,000 customers and helping trustees and sponsors access scale, strong governance and dependable delivery.
In addition, he will be supported by a team of c.100 investment professionals across portfolio strategy, asset allocation, asset liability management and origination, and will join institutional retirement’s senior leadership team.
Groves brings nearly three decades of investment experience delivering for pension clients across market cycles. He joins L&G from Pension Insurance Corporation (PIC), where he was CIO and an executive committee member, leading investment strategy, asset liability management and portfolio construction for a c.£55bn portfolio. He was responsible for building a market-leading back-book optimisation capability through active portfolio management, capital recycling and disciplined de risking.
He succeeds Gareth Mee, who served as CIO of institutional retirement before his appointment as CEO in December 2025.
Commenting on his appointment Groves said: “I’m delighted to be joining L&G. It has a long standing, disciplined approach to investing against pension liabilities, supported by scale, strong governance and a clear long term focus. I’m looking forward to working with the team to continue building resilient portfolios that deliver secure outcomes for members, support trustees and sponsors, and deploy capital in a way that generates sustainable, long term value.”
