L&G names Retail CEO and group COO; Lloyds expands asset finance staff
UK financial services giants Legal & General (L&G) and Lloyds Banking Group have both announced key appointments, aimed at driving growth and enhancing their respective business strategies.
Legal & General has appointed Laura Mason as chief executive officer of its retail division, effective December, and Katie Worgan as group chief operating officer, starting in the first quarter of 2025.
Mason, currently CEO of L&G’s private markets business, will replace Bernie Hickman, who is stepping down after 26 years with the company. Mason brings extensive experience across L&G, having held senior roles in its alternative assets and institutional retirement businesses. Before joining L&G, she worked at Towers Watson as a consultant to major UK life insurers.
Worgan, who is joining from Lloyds Banking Group, where she serves as managing director and chief operating officer of consumer relationships, will oversee operations, technology, digital, and data strategies at L&G. She brings over two decades of leadership experience from Lloyds and HSBC, where she held international roles in private banking, wealth management, and retail banking. Both appointments are subject to regulatory approval.
“We are making rapid progress on our vision for a growing, simpler, better-connected business,” said António Simões, chief executive of Legal & General. “These leadership appointments reflect our intention to continue to move at pace to implement our strategy.”
At Lloyds, the asset finance team has been reinforced with several senior hires amid rising demand for asset-based financing among UK small and medium-sized enterprises (SMEs).
Tim Biddle, formerly commercial director for SME lending at Paragon Bank, has been named head of asset finance sales. Oliver Batley has joined as area director for the Midlands and North West, while Nina Babou has been appointed area director for London and North East England. The hires are part of Lloyds’ effort to expand its asset finance sales team by 10%.
“Asset finance has fast become an increasingly important market, offering businesses more options to fund their growth,” said Tim Biddle, head of asset finance sales at Lloyds. “These hires reflect our commitment to supporting the growth and success of trading businesses across the UK, ensuring they have the financial tools needed to thrive in a competitive market.”
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