Michelle Scrimgeour’s rise to the top of one of the UK’s most powerful asset managers surprised many in the investment industry. Not just because the 55-year-old is a relative unknown among big-league fund managers, but because her appointment is at odds with accusations the sector is too male dominated.

Legal & General Investment Management’s choice of chief executive, after a nine-month search, means the former head of Columbia Threadneedle’s European business becomes the latest woman to take control of a large asset management company.