Legal & General Group Plc announces the appointment of António Simões as Group Chief Executive Officer

15 June 2023

Legal & General Group Plc (“Legal & General” or “the Group”) is pleased to announce that António Simões is to be appointed to the role of Group Chief Executive Officer of Legal & General, subject to regulatory approval.

António 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, António 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.

António’s appointment follows a rigorous, global, selection process managed by Sir John Kingman, Group Chair. He will succeed Sir Nigel Wilson as Group CEO. Sir Nigel has been Group CEO of Legal & General since 2012, and in January announced his intention to retire from executive life.

António will take up his post formally on 1 January 2024. Sir Nigel will remain as Chief Executive in the meantime, continuing to focus on delivering the strategy of the Group. Sir Nigel will work closely with António to ensure a comprehensive handover and a smooth transition. António will join the Board of Legal & General Group plc on appointment, at which point Sir Nigel will step down from the Board.

There are no other disclosures required under Listing Rule 9.6.13R in relation to António’s appointment.

Sir John Kingman, Chair: “The Board is delighted to appoint António as Group CEO Designate. António brings a formidable leadership track record at the most senior level of financial services, working across complex, global organisations. In an excellent field, his energy, ambition and clarity of strategic thinking stood out, alongside his strong belief in the positive role that business should play in society.

I look forward to working with António to ensure that Legal & General continues to deliver on its enormous potential for our shareholders, employees, customers and the communities of which we are a part. I would also like to reiterate my thanks to Nigel who I know will continue as ever to show relentless commitment to Legal & General. We have a first-class executive team, and the Board is delighted with the progress they continue to drive against our strategy.”

António Simões: “Legal & General is a great company with an iconic, highly respected brand, strong financial track record and a deep-rooted commitment to social purpose. I’m proud to be appointed as Group CEO to build on the success of Nigel and the team.

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.

I look forward to working with the Board and an exceptional team of colleagues to shape this important next chapter; delivering market leading solutions, sustainable shareholder value, and an enduring positive impact on society.”

Source: Legal & General