Legal & General has appointed Simon Gadd as chief risk officer as part of a wider reshuffle at the insurer.
Gadd was previously managing director of L&G’s annuities business, and replaces Andrea Blance who established the chief risk officer function in 2010 and has now moved to become finance director of L&G’s savings division.
Kerrigan Procter has taken over as managing director of the annuities business, having previously held the role of L&G Investment Management head of solutions. Procter has been succeeded by Aaron Meader, former head of US pensions solutions.
L&G group chief executive Nigel Wilson says: “Simon Gadd’s expertise from running the annuity business can only help to increase our risk management expertise across the group.
“Simon and Kerrigan have helped hundreds of companies to derisk their pension schemes. Kerrigan’s move to running the annuity business will enable us to continue to innovate and deliver the best integrated solutions to our clients across our investment management and annuity business.”