Business
Management Changes
Management Changes.
About this update from Legal & General Group Plc
[{"type":"text","content":"\n \nRNS Number : 6302W Legal & General Group Plc 16 November 2017 \n\n \n16 November 2017 \n \nLegal & General management changes: Kerrigan Procter becomes CEO of LGC; Chris Knight and Laura Mason promoted to CEOs of LGR Retail and LGR Institutional \n \nLegal & General Group Plc today announces senior management changes in its Legal & General Retirement (LGR) and Legal & General Capital (LGC) divisions.\n \nThese two divisions collectively contributed £708m in Operating Profit in H1 2017 (FY 2016: £1,066m) and are core components of Legal & General's growth strategy. \n \nKerrigan Procter has been CEO of the LGR business division since 2013. \nKerrigan, who is a member of Legal & General's Group Board and of its Executive Committee, will now move to become CEO of Legal & General Capital (LGC). \n \nPrior to heading LGR, Kerrigan's strong track record of delivery in senior roles included responsibility for Liability Driven Investments (LDI) within Legal & General Investment Management. His move to LGC will ensure that the powerful synergies across Legal& General's principal balance sheet businesses are maximised.\n \nChris Knight is head of LGR Retail, with responsibility for a wide range of retirement products, notably Lifetime Mortgages and Individual Annuities. As CEO of that business, he will join the Group Executive Committee and report directly to Nigel Wilson. LGR Retail's market share in Individual Annuities is increasing and is now 13%, and Legal & General Home Finance under Chris' leadership has a market share of over 30% in Lifetime Mortgages. \n \nLaura Mason is promoted to become CEO of LGR Institutional. She will also report directly to Nigel Wilson and join the Group Executive Committee. This will build on her experience of running Legal & General's Direct Investments, and before that, of managing investments for LGR. \n \nThe management changes will take effect from the New Year.\n \nCommenting on the changes, Group CEO Nigel Wilson said:\n \n\"These changes increase Legal & General's capability to accelerate the growth of our business and maximise synergies between our divisions. Kerrigan, Laura and Chris are representative of the outstanding leadership we have at L...