The financial services group picked an outsider to be its next chief executive
The Legal & General Group has announced the appointment of António Simões (pictured) to group chief executive officer, subject to regulatory approval.
Simões will join the financial services group from Banco Santander, where he has been regional head of Europe since September 2020. He also worked at HSBC for 13 years, including as CEO of UK and Europe, and latterly CEO of global private banking, based in London and Hong Kong.
He will replace Nigel Wilson, who has been group CEO since 2012, and in January, announced his intention to retire.
Legal & General said Simões will take up his post formally on January 1, 2024, while Wilson will remain as chief executive in the meantime.
“The board is delighted to appoint António as group CEO designate,” John Kingman, chair at Legal & General Group, said in a statement. “António brings a formidable leadership track record at the most senior level of financial services, working across complex, global organisations.
“In an excellent field, his energy, ambition, and clarity of strategic thinking stood out, alongside his strong belief in the positive role that business should play in society. I look forward to working with António to ensure that Legal & General continues to deliver on its enormous potential for our shareholders, employees, customers and the communities of which we are a part.”
Kingman also thanked Wilson, whose leadership has enabled Legal & General Investment Management to become one of Europe’s largest asset managers. In 2022, the financial services group also enjoyed a 12% increase in both operating profit and profit after tax.
Commenting on his appointment, Simões said he was proud to be joining Legal & General as group CEO.
“Legal & General is a great company with an iconic, highly respected brand, strong financial track record and a deep-rooted commitment to social purpose,” he commented. “I look forward to working with the board and an exceptional team of colleagues to shape this important next chapter; delivering market leading solutions, sustainable shareholder value, and an enduring positive impact on society.”
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