L&G picks new CEO from Santander
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Legal & General has appointed António Simões as its next group chief executive officer after a “rigorous” selection process to replace Sir Nigel Wilson, whose decision to retire was announced in January.
Simões will take up his post formally on 1 January 2024 and Sir Nigel will remain as CEO in the meantime. The pair will work closely to ensure a comprehensive handover and a smooth transition.
Simões will join from Banco Santander, where he has been regional head of Europe since September 2020. In this role, he leads Santander’s businesses in the UK, Spain, Portugal and Poland, working across retail and commercial banking, corporate and investment banking, wealth management and insurance.
Prior to joining Santander, he spent 13 years at HSBC, including as CEO of UK and Europe, and latterly CEO of global private banking, based in London and Hong Kong. He is a former McKinsey & Company partner.
Simões’s appointment, which is subject to regulatory approval, follows a “rigorous, global” selection process managed by group chair Sir John Kingman, who said Simões’s energy, ambition and clarity of strategic thinking stood out, alongside his belief in the positive role that business should play in society.
Sir John added: “António brings a formidable leadership track record at the most senior level of financial services, working across complex global organisations.”
Simões said: “This is a critical time for our industry, clients and customers, with emerging technologies, changing societal dynamics and wider economic forces presenting new challenges and opportunities that require all of us to adapt and evolve.
What should be Simões’s priorities as L&G’s new boss?
