The new hire will take responsibility for global oversight.

Legal & General Investment Management(LGIM) has appointed risk veteran Margaret Ammon as chief risk officer, subject to regulatory approvals.

Currently, Ammon is CRO at M&G Asset Management and will join LGIM in February 2020. The group said she will be in charge of the oversight and development of LGIM’s risk functions globally, reporting to chief executive Michelle Scrimgeour.

As new technology and regulations come online and cybersecurity rises in sophistication, the role of the CRO, often the first responder to unpredicatable conditions, has become a broad and pivotal one in senior management.

Prior to joining M&G in London, Ammon spent two years as chief risk officer for Colonial First State Global Asset Management; and before that spent four years as head of risk for Schroders in Asia; she also led risk management for Old Mutual Asset Managers and has worked in financial risk management at KMPG. Her career spans roles in the UK, Asia and Australia over more than 20 years.

Scrimgeour said: “Her proven track record in building global risk oversight models, coupled with a strong understanding of practical application within differing asset classes and markets, will be an invaluable addition to our business.” One of Europe’s largest asset managers, LGIM manages around £1.1 trillion in assets globally.