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L&G chair Stewart to step down


Legal & General Group chairman John Stewart is to step down and retire next year after six years in the role.

Stewart assumed the chairmanship in 2010, taking over from Sir Rob Margetts, and will retire during 2016 once a successor has been appointed.

He was previously chief executive of Woolwich and National Australia Bank, and deputy chief executive at Barclays.

He says: “Legal & General is strategically and financially stronger than it was five years ago. It has a strong board, great people, first class ethics and a supportive culture, and provides products that are economically and socially useful.

“I feel we are now coming to a stage where the post-financial crisis work has been successfully delivered: the company is now focused on the right markets in the UK and internationally and well prepared for the transition to Solvency II.”

Group chief executive Nigel Wilson says: “John has provided terrific leadership over the last five years – his ‘inspired common-sense’ has made him a valued mentor not just to the board and me, but to the company as a whole.”



Towry hires ex-L&G strategy boss as chief financial officer

Towry has appointed former Legal & General strategy director Wadham Downing as chief financial officer. Paul Wright, Towry’s current CFO, is due to retire next summer. He will remain with the business until retiring in June, and will leave after more than five years with the business, having first joined as finance director in 2009. […]


L&G pledges to boost Cofunds platform

Legal & General has promised to improve Cofunds’ systems as part of a strategic review. In its interim results, published today, the company says it will “focus on improving operational efficiency in Cofunds” as it carries out a review of its digital savings business. Total assets under administration on the platform are up 6 per […]


L&G: The housing stalemate

Our latest research into ‘last-time buyers’ in conjunction with Cebr found the value of UK housing stock owned by over-55s is set to grow by 51 per cent in the next five years. This increasing proportion of homes in the hands of older borrowers could further block the housing market, restricting the choice available to […]

Risk-free path to pensions is a myth

Robin Geffen, Fund Manager and CEO Are you taking enough risk? Robin Geffen, Founder of Neptune and Manager of the top performing Global Alpha Fund, discusses the importance of accepting enough volatility in planning for retirement. Click here to read the full article Important information Investment risks The value of an investment and any income from […]


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