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Legal and General


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Is this even legal? Sounds vaguely like racial discrimination. Financial pressure on a third party to employ or not employ someone of a particular race. They might end up having to rename themselves from L&G to I&G.

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Legal & General demands ALL FTSE 100 companies must have at least one board member from black, Asian or ethnic minority background by start of 2022
Financial services firm urges company bosses to hire ethnic minority director
It says it will vote against firms unless they hire a BAME board member by 2022
Study in February found there were 37 FTSE 100 firms with no BAME directors
L&G cited Black Lives Matter protests as meaning 'now is the time for action'

I have highlighted the words I saw again and again in the public sector press I used to have to read: random exhortations to make a pointless piece of fluff appear to be a serious story. 

And they can fuck right off with their blatant racism; whatever happened to appointing people upon merit?

L&G have been rather crap as a company of late; this diversion away from business into woke is probably why.

They've already gone full Greta.

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Legal and General Investment Management (LGIM) has said it will take action against companies that are not addressing the risks of climate change.

LGIM, one of the biggest investment funds in Europe, said it would exclude offending firms from its Future World index fund.

Where those firms featured in its other equity funds, it would vote against re-electing the chairs of their boards.

 

https://www.bbc.co.uk/news/business-44430882

Buying up commercial property - smart move guys.

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Legal & General buys House of Fraser building in £219m deal

Home of department store in Birmingham city centre sold by British Land along with two other assets

 

https://www.business-live.co.uk/commercial-property/legal--general-buys-house-8402976

And their modular house building operation has been losing money hand over fist.

And just what is a insurer / investor doing going into house building anyway?

 

Home page of their website - WTAF?

image.thumb.png.149ff787f36fbd5836fb5fb87282a9ff.png

They're an absolute steaming mess.

Here is their share performance.

image.png.17805dee6255d6278f301bc7504c0b31.png

 

And saving the absolute biggest irony until last; here is their board.

image.thumb.png.07a83d96e2beeccc27f07e4f2b17393f.png

 

Wow.  With all these many races represented it is exactly like the League of Nations xD

 

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Let's not forget that they are custodians and the £1.2trillion of assets belong to individuals through the likes of pension funds. Not only are they charging a healthy fee (they really screwed my mum over the years with active fund management which entailed a cursory glance of the investments twice yearly) but they are now using that leverage for their own PC means which sticks in the craw. I hope people withdraw their money on mass.

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I think we can be pretty confident that if a FTSE firm feels under pressure to put an ethnic on the board then they will simply recruit a British Indian accountant as FD

I know a few people who fit this description and whilst they are brown and have cultural connections to the sub continent, they are as British as me.   The only difference is that they support India in the cricket.

This is just L&G virtue signalling. Nothing more. Nothing less. Pointless bullshit.

Cunts.

 

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1 hour ago, longtomsilver said:

Let's not forget that they are custodians and the £1.2trillion of assets belong to individuals through the likes of pension funds. Not only are they charging a healthy fee (they really screwed my mum over the years with active fund management which entailed a cursory glance of the investments twice yearly) but they are now using that leverage for their own PC means which sticks in the craw. I hope people withdraw their money on mass.

Virtue signalling with other people’s money.

Incidentally a lot of the FTSE is not even British owned so presumably if L&G piss them off enough they may go elsewhere thereby further knackering the City of London. Do foreigners such as Russians as Directors count as ethnic minorities ( particularly since not all Russian citizens are ethnic Russians). I can see this being the most pointless of gestures.

Edited by Virgil Caine
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37 minutes ago, Bornagain said:

I think we can be pretty confident that if a FTSE firm feels under pressure to put an ethnic on the board then they will simply recruit a British Indian accountant as FD

I know a few people who fit this description and whilst they are brown and have cultural connections to the sub continent, they are as British as me.   The only difference is that they support India in the cricket.

This is just L&G virtue signalling. Nothing more. Nothing less. Pointless bullshit.

Cunts.

 

I agree with your point about Indian FDs but what is more likely is that they will put somebody non-white on as non-exec with a diversity / HR background who will pick up their stipend and otherwise keep quiet until the "equality and diversity" bullet of the agenda where they will rattle off some cliches to be minuted whilst everyone else quietly studies the Boardroom's decor.

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42 minutes ago, Bornagain said:

I think we can be pretty confident that if a FTSE firm feels under pressure to put an ethnic on the board then they will simply recruit a British Indian accountant as FD

I know a few people who fit this description and whilst they are brown and have cultural connections to the sub continent, they are as British as me.   The only difference is that they support India in the cricket.

This is just L&G virtue signalling. Nothing more. Nothing less. Pointless bullshit.

Cunts.

 

If they're Indian, brown, and have links to the sub continent then they're not as British as you, assuming you're an indigenous inhabitant anyway.

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Black empowerment in South Africa demanded that the front row in a corporation (particularly a parastatal) have a row of “previously disadvantaged” directors and section leads. Often these are politically connected skimmers and the business is still run by the previous incumbents, now called “Interim MD” or “Acting CFO” etc. Smoke and mirrors.

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59 minutes ago, Captain Cavey said:

Black empowerment in South Africa demanded that the front row in a corporation (particularly a parastatal) have a row of “previously disadvantaged” directors and section leads. Often these are politically connected skimmers and the business is still run by the previous incumbents, now called “Interim MD” or “Acting CFO” etc. Smoke and mirrors.

This is South Africa :

https://www.bitchute.com/video/nwwd1Y36x4Am/

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1 hour ago, Carl Fimble said:

If they're Indian, brown, and have links to the sub continent then they're not as British as you, assuming you're an indigenous inhabitant anyway.

Shut your eyes and you could not tell.

I can confirm that I come from a long line of English, Scottish & Irish peasants.

Those that I know have  traditional British attitudes to just about everything, the only real difference between me and them is their deep knowledge of cricket and an understanding of Indian culture and geography - perhaps this is because they tend to be westernised professional people - Doctor, Engineer, Solicitor & Chemists.

 

 

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I worked for L&G for a while at the end of the 90s (Pension Review).  I left in the end because of the corporate crap which was beginning to gnaw at my soul.  It's probably ten times worse now.  For the pension review they employed far more people than were needed and probably at least half didn't add any value to the outcome of the department.  I decided it was a bit of make-work scheme funded by the Welsh Assembly Govenment which wanted to attract finsec to Wales.

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Given the likelihood most FTSE companies will have at least one Jewish director I am pretty sure they can all tick the ethnic minority box. To show what a load of wank this exercise is you only need to consider one of the oldest FTSE companies Antofagasta. Despite being listed in London for historical reasons it basically operates in Chile. It’s Chairman is of Croatian descent. The population of Chile is made up of White, Amer Indian and mixed race part European part Amer Indian Mestizo peoples. Why on earth do they need to shoe horn Blacks or Asians on their board. In many ways like the whole of BLM this is an exercise in Anglo centric cultural imperialism where the hang ups of the USA get exported and inflicted on the rest of the world. It is likely to be as successful as the US and UKs attempts to foist liberal democracy on Iraq.

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In a similar vein, I work for large construction company who are currently on their arse.  I received an email today informing me that we have just recruited some third party consultants (I can't remember their name) to help us learn about diversity.  Also going forward we will placing adverts specifically targeting women and underrepresented people.  FFS.

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