MutualFundWire.com: Lege Joins a $570B-AUA AM's C-Suite

MutualFundWire.com

The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication

Wednesday, May 8, 2024

Lege Joins a $570B-AUA AM's C-Suite

A veteran finance fundster is moving from a $65-billion-AUM ETF shop near D.C. to a PE-backed, $570-billion-AUA (as of March 31) in the Tar Heel State.

Annette Janecka Lege
Allspring Global Investments
Incoming Chief Financial Officer

Yesterday, Kate Burke, president of Allspring Global Investments [profile], confirmed that Annette Lege will join the Charlotte-based firm this month as chief financial officer. Lege will report to Burke and will succeed current Allspring CFO Molly McMillin, who will change roles at the asset manager.

Lege most recently served as CFO at another asset manager: Bethesda, Maryland-based ProShares. A spokesperson for ProShares was not immediately able to comment.

Molly Festa McMillin
Allspring Global Investments
Current Chief Financial Officer

Melissa Murphy, an Allspring spokesperson, confirms that Lege will join the fund firm on May 13. And Murphy reveals that McMillin "will support various strategic projects and initiatives across the company and begins this transition this month."

Burke lauds Lege as "a talented transformation executive with an established track record in significantly enhancing organizational performance."

"She is a strong, hands-on leader with the right experience to navigate our evolution as an independent company," Burke states. "Annette brings our strong leadership team a complementary financial analytics skillset that will help further propel Allspring into our next growth phase. We continue to invest in our platform and our people in order to deliver an exceptional experience for our clients."

Lege will move to Allspring's headquarters in Charlotte, Murphy confirms, and will lead a team that includes "approximately 60 finance professionals." (By comparison, Allspring has more than 1,400 employees in total, Murphy confirms, including more than 410 investment professionals.)

For her part, Lege says that she is "honored to join ... the Allspring leadership team."

"I am impressed by the caliber of the people and depth of the investment platform and look forrward to joinnig at a truly unique time in the firm's growth journey," Lege states.

"At this time, our executive leadership team is established," Murphy tells MFWire. "We've made several significant appointments to our leadership team since becoming an independent asset management firm including the hiring of a Chief Legal Officer, Chief Technology Officer, Head of Strategic Initiatives, Heads of US and International Distribution and several senior distribution hires."

Lege joined ProShares last year, after spending 30 years with Invesco and predecessor AIM, rising to lead finance operations. She is an alumna of the University of Houston.

McMillin has spent 17 years with Allspring and predecessor Wells Fargo Asset Management, and she rose to CFO in 2018. She is an alumna of Queens University of Charlotte and of Roanoke College.

Printed from: MFWire.com/story.asp?s=67397

Copyright 2024, InvestmentWires, Inc.
All Rights Reserved