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Legal & General appoints new LGC CEO

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Legal & General Group has appointed Kerrigan Procter (pictured), CEO of the company’s Legal & General Retirement (LGR) business since 2013, as CEO of Legal & General Capital (LGC).

Prior 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.
 
Chris Knight will succeed Procter as 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 Group CEO Nigel Wilson. LGR Retail’s market share in Individual Annuities is increasing and is now 13 per cent, and Legal & General Home Finance under Chris’ leadership has a market share of over 30 per cent in Lifetime Mortgages.
 
In addition, Laura Mason is being promoted to become CEO of LGR Institutional. She will also report directly to 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.
 
The management changes will take effect from the New Year.
 
Wilson says: “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 Legal & General. They combine extensive industry experience with intellectual rigour, and they are great team players. I have every confidence they will deliver terrific outcomes for all of our stakeholders.”

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