The investment arm of London-listed Legal & General handed the role to AXA IM's discretionary sales head.

Legal and General Investment Management has appointed Stephen Gray to the newly-created role of head of wealth management.

Gray, who has 18 years of industry experience, joins from AXA Investment Managers, where he was head of discretionary sales. Previously, he was regional sales manager at Framlington Unit Management.

Based in London, Gray will be responsible for extending LGIM’s wholesale proposition to wealth managers, stockbrokers and fund of fund clients. He will report to Simon Hynes, head of UK retail sales. 

“We are delighted to welcome Stephen on board to lead our wealth management business. He has significant experience working with discretionary clients, and his appointment reflects our commitment to broadening LGIM’s wholesale proposition,” said Hynes.

As of the end of 2015, LGIM managed £757 billion ($1 trillion) of assets. Last month, Michael Marks joined the firm as chief operating officer, replacing Simon Thompson.