Anton Eser, chief investment officer at LGIM, the UK’s largest asset manager, is stepping down later this year and will be replaced by deputy CIO Sonja Laud — just weeks ahead of the arrival of Michelle Scrimgeour, the new chief executive.

Eser, who is expected to stay until the end of a transition period in the autumn, told his staff in a memo on June 4 that he would be leaving for family reasons. He has worked at the UK insurer Legal & General’s £1tn fund management arm for 13 years, and was made chief investment officer in 2017.