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Legal and General snaps up CFO from 3i Infrastructure

Stephen Halliwell is taking on a newly created role at the firm, a proponent of the expansion of Gatwick Airport and the building of a great northern railway.

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UK-based investment firm Legal & General Capital has appointed Stephen Halliwell as its new chief financial officer.

Halliwell joins the investment arm of UK insurance giant Legal & General from 3i Infrastructure. He had initially joined the London-based asset manager in 1998, overseeing its £700 million ($908.6 million; €812.6 million) IPO in 2007.

A spokeswoman for Legal & General Capital told Infrastructure Investor that Halliwell’s role is a new one within the firm, the creation of which is part of a broader plan to bolster its finance team. His successor at 3i Infrastructure will be James Dawes, who has joined from his role as head of finance business partnering at Legal & General Investment Management.

Legal & General Capital said Halliwell’s appointment will “support its growth strategy”, which includes a greater focus on infrastructure, housing and SME finance.

Nigel Wilson, chief executive of Legal & General, said earlier this month that the UK government should pull funding for the Hinkley Point C, Heathrow Airport third runway and HS2 rail projects – which he described as the “three Hs” – and instead fund the “three Gs” of green energy, Gatwick Airport expansion and the building of a great northern railway line.

“It is clear that Legal & General Capital has been taking a fresh and significant approach to investing in key areas of the UK’s social and economic infrastructure,” Halliwell said in a statement.