UK’s Legal & General sheds M&A head
Wadham Downing is to leave his position as group M&A strategy director at UK insurer Legal & General in the coming week, the company has announced.
Downing led the M&A activities of the group, which saw some seven acquisitions since March 2013, intended to boost the company’s presence in markets including investment management.
In this period L&G also did its first US acquisition in the shape of Global Index Advisors. Other acquisitions included Cala Homes, which along with the acquisition of Banner boosted L&G’s presence in the UK housing market.
Nigel Wilson group CEO of Legal & General Group said: “In his five years here, Wadham has played a significant role in contributing to Legal and General’s financial success and transformation. He has always demonstrated a great deal of passion, integrity, commercial acumen and professionalism in his roles as group CFO and M&A director.”