Portfolio Manager

Legal & General (L&G) is a leading UK financial services group and major global investor. We have safeguarded people’s financial futures since 1836, built a better society, and created value for customers and shareholders. We are one of the world’s largest asset managers, providing asset origination capabilities to underpin retirement and protection solutions across pension risk transfer, UK and US life insurance, and UK workplace pensions and retirement income. Our global asset management business delivers complex, responsible investment solutions across public and private markets. Asset Management is a critical driver of our Group strategy, working with Institutional Retirement and Retail divisions to benefit clients and customers and deliver enhanced shareholder returns. Our investment philosophy focuses on creating long‑term value and, where relevant, incorporating financially material sustainability criteria to drive positive change.

As a Portfolio Manager in the Buy and Maintain team within the Asset Management division of Legal & General, you’ll manage a broad range of investment‑grade credit portfolios. You’ll work closely with teams across the business, supporting all aspects of the client lifecycle—from onboarding and portfolio design to trade modelling and client servicing to deliver exceptional client outcomes. You’ll contribute to the management of bespoke and pooled portfolios in a risk‑controlled manner and help drive innovation across investment processes and systems. You’ll have the opportunity to work across a range of mandate types, including defined benefit and defined contribution pension schemes, as well as insurance clients.

What you’ll be doing:

• Design and manage bespoke and pooled Buy and Maintain portfolios within a team‑based framework to meet client objectives and constraints.
• Contribute to the optimisation of client portfolios to support strong performance and client satisfaction.
• Collaborate with implementation teams, client teams and the Global Trading Team to support smooth onboarding.
• Monitor and analyse portfolio performance and rating activity; work with credit analysts to recommend and implement trades.
• Manage derivative overlays with liquidity and collateral requirements to maintain portfolios within risk parameters.
• Represent the team in client and consultant meetings; support the preparation and review of marketing materials and reporting.
• Collaborate across Asset Management teams to deliver robust client outcomes and drive improvements in processes, systems and instruments.
• Ensure all portfolio management activity aligns with procedures and Treating Customers Fairly policies.

Qualifications:

• Strong academic or professional qualifications with experience in credit‑focused roles; CFA qualification preferred, indicating commitment to professional and ethical standards.
• Experience across fixed‑income markets, including the use of related derivatives.
• Knowledge of ESG considerations and the regulatory environment for pension and insurance assets.
• Ability to analyse macroeconomic trends, industry conditions and company‑specific factors.
• High IT proficiency, with experience using Bloomberg, AI‑integrated tools, VBA and ideally Python.
• Clear and concise communication skills with the ability to articulate ideas logically.
• Demonstrated ability to collaborate effectively within a team.

Benefits:

• Participation in our annual performance‑related bonus plan and share schemes.
• Generous pension contribution.
• Life assurance.
• Healthcare Plan (permanent employees only).
• At least 25 days holiday, plus public holidays (26 days after 2 years’ service); option to buy/sell holiday.
• Competitive family leave.
• Electric car salary sacrifice scheme (permanent employees only).
• Discounts on our products and at a range of stores and online.
• Wellbeing‑oriented workspace environments and collaboration opportunities.

At L&G, we believe it’s possible to generate positive returns today while helping to build a better future for all. We foster a welcoming, inclusive culture with opportunities to collaborate with people of diverse backgrounds, views and experiences. We are guided by leaders with integrity who care about your future and wellbeing, and we offer initiatives to support career development. We support flexible working options including part‑time, term‑time and job shares where feasible. Although some roles have limited flexibility due to customer demand, we consider requests where possible. It doesn’t matter if you don’t meet every criterion. Think about what you excel at and what you can bring in terms of strengths, potential and alignment with our purpose.