Legal & General workplace savings managing director Tony Filbin will leave the firm next year following a restructure of its savings and protection businesses.
The restructure, which was announced in June, saw 600 jobs put at risk as the insurer’s savings and annuities and protection arms merged to form Legal & General Assurance Society.
An L&G spokesman says Filbin’s role has been made redundant as a result. He says Filbin’s responsibilities will be taken on by L&G group protection managing director Jim Islam.
Filbin says his departure from the insurer is “amicable” and he will leave the firm early next year.
He says: “I have chosen to semi-retire next year but plan to continue with two or three part-time roles. Leaving was my own decision and there was never any pressure for me to go.”
Filbin, who has led the development of L&G’s workplace savings proposition since 2006, is understood to be looking at part-time roles in the industry linked to pensions governance.
He led the development of an independent governance committee for L&G’s contract-based pension schemes, launched in May this year. The committee is designed to provide contract-based members with “trustee-style” governance.
Filbin says: “All the political parties, regulators and trade unions believe that bigger is better and you get better governance through scale.
“They all want transparency and value for money and I think that will drive different business models both for providers and distributors.”