Allspring Global Investments, based in Charlotte and a spinoff from Wells Fargo & Co.’s (NYSE: WFC) asset management division, has appointed a new chief financial officer.
The global asset management firm has hired Annette Lege for the CFO position, where she will be responsible for overseeing Allspring’s financial strategy, teams, and operations. She will report to Allspring President Kate Burke, who began her role in September last year.
Lege will start as CFO on May 13, succeeding Molly McMillin, who will remain with the firm in a new capacity. McMillin will support various projects and initiatives at Allspring, according to spokesperson Melissa Murphy.
Meet the newest member of the Allspring executive leadership team: Annette Lege!
We’re thrilled to have Annette on board as our new Chief Financial Officer and can’t wait to see the fresh perspectives she brings. Welcome, Annette! #WeAreAllspring #leadership #NewHire #CFO pic.twitter.com/ZJMTqtSBEH
— Allspring Global Investments (@Allspring) May 13, 2024
“I am impressed by the caliber of the people and depth of the investment platform and look forward to joining at a truly unique time in the firm’s growth journey,” Lege said in a statement.
Lege has over three decades of experience in financial services. Before joining Allspring, she served as CFO at ProShares, a provider of exchange-traded funds and similar products. She also held several leadership roles during her 24 years at Invesco, an independent investment management company.
Burke stated that Lege’s extensive experience will help guide Allspring through its transformation as an independent company. Allspring became a standalone company in 2021 after GTCR and Reverence Capital Partners acquired Wells Fargo’s asset management business for $2.1 billion.
“Annette brings a complementary financial analytics skill set to our strong leadership team that will help propel Allspring into our next growth phase,” Burke added.
Lege’s appointment follows several other executive hires at the firm, including a chief legal officer, chief technology officer, head of strategic initiatives, and head of U.S. and international distribution, among others.
Formerly based in San Francisco, Allspring moved its headquarters to Charlotte in October 2022. The corporate office is located on the third floor at 1415 Vantage Park Drive, in the West Tower of the Vantage South End mixed-use development.
“We remain very pleased with our decision to make Charlotte our corporate headquarters,” Murphy said.
Allspring manages more than $570 billion in assets, employs 410 investment professionals and 1,400 staff, and operates 20 offices globally. The firm currently has several job openings in the Charlotte area.
