Legal & General appoints Nigel Wilson as chief executive

Legal & General Group has named Nigel Wilson as chief executive of the group, replacing Tim Breedon.

Wilson (pictured) leaves his current role as chief financial officer to become designate chief executive with immediate effect, and will formally succeed Breedon on June 30.

Breedon will step down from his role and the company’s board at the end of June, but will continue to be employed by the company until the end of December in an advisory and lobbying role.

John Stewart, chairman of Legal & General, said: “I am delighted that Nigel will be Tim’s successor. Nigel will bring an evolutionary approach to the execution of the next stage of the Group’s strategy and provide continued focus on delivering for our customers, business partners and shareholders.

He added that Tim will continue to play an important role for the company and the industry in ensuring an appropriate outcome in the UK on Solvency II.

Wilson said: “I am honoured by the Board’s confidence in me and excited by the challenges ahead as I take up the reins from Tim. Tim’s stewardship has left the Group in a great position to take advantage of the opportunities ahead of us. It has been a privilege to work alongside Tim for the last three years. Together, we will ensure a seamless transition to enable the Group to capitalise on its strong positions.”

Wilson joined Legal & General in September 2009. Wadham Downing, the company’s group financial controller, will act as interim group CFO, until a permanent successor is appointed.

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