Cofunds chairman Charlie Eppinger has stepped down and retired from the Cofunds board following the completion of Legal and General’s acquisition of the platform.
In March, L&G announced it was acquiring the 75 per cent share capital of Cofunds it did not already own, for a cash consideration of £131m. The acquisition valued Cofunds at £175m.
L&G chief executive of savings Mark Gregory says: “We are thrilled that everyone involved has worked so hard to ensure a smooth transition.
“As ownership changes to Legal & General, I would like to publicly thank Charlie Eppinger for his 10 years of association with Cofunds. He has guided the platform from its early days to the highly successful, market leading business it is today. He’ll be missed but he can retire from the Cofunds board safe in the knowledge that Chris Last and the team at Cofunds will take the platform on to even bigger and better things. We thank Charlie and wish him all the best.”
Cofunds business unit Chris Last says: “We have a strong and experienced executive team in place which is single minded in its focus on the job in hand, namely supporting the RDR and platform needs of Cofunds’ clients.
“I am particularly pleased to be taking the helm of a company with such an abundance of talent and expertise as it means we can harness that talent for the benefit of all our clients. We have ambitious plans for the platform and this is an exciting time to be putting those plans in place.”