L&G and Caledonia Investments Shake Up Leadership Ranks

Ludovic Le Du joins L&G as global head of exchange-traded funds and index distribution, arriving from State Street Investment Management where he oversaw intermediary client coverage across Northern Europe and France. Reporting to Laura Brown, Le Du is tasked with scaling L&G’s indexed and systematic strategies into the US and beyond. The firm’s ETF assets recently eclipsed $30 billion, marking a 50 per cent surge over the past year, while the broader $1.6 trillion asset manager prepares to debut a suite of Active ETFs later this year.

Simultaneously, London-listed Caledonia Investments has named Theo Tizard to lead its private capital division. Tizard succeeds Tom Leader, who concludes a tenure that saw the unit invest over £400 million and generate nearly £1.1 billion in realisations, including exits from 7iM and Stonehage Fleming. Tizard, a veteran of the firm since 2017 with a background at Houlihan Lokey and PwC, will assume full control in December 2026 as the trust looks to build upon a portfolio currently valued at £760 million.