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L&G appoints new chief executive officer

IBR Staff Writer Published 11 May 2012

Legal & General, a UK based provider of risk, savings and investment management products has appointed its chief financial officer Nigel Wilson to succeed Tim Breedon as the new chief executive of the company from 30 June 2012.

According to the company, the appointment followed "a thorough and exhaustive" recruitment process carried out with the help of an executive search firm.

L&G chairman John Stewart was quoted by The Telegraph as saying: "Nigel will bring an evolutionary approach to the execution of the next stage if the group's strategy, and provide continued focus on delivering for our customers, business partners and shareholders."

Prior to joining L&G, Wilson was chief financial officer and deputy chief executive of United Business Media.

Wilson also served as chairman at Halfords and held senior positions in Dixons, Guinness Peat Aviation, and Stanhope Properties.

L&G financial controller Wadham Downing has been appointed interim chief financial officer until a permanent successor to Wilson is appointed.

Breedon, who will step down as CEO and as a board member on 30 June 2012, will remain an employee until the end of December this year, to help the company lobby for changes to the European Union's planned Solvency II capital regime for insurers.