Legal & General appoints EY senior partner Jeff Davies as new chief financial officer

Francesca Washtell
Follow Francesca
The 480ft Strata Tower In London Is Named The UK's Ugliest New Building
Legal & General is one of the City's biggest pension and insurance firms (Source: Getty)

Insurance giant Legal & General (L&G) has appointed EY senior partner Jeff Davies as group chief financial officer.

Davies will take up the role after the firm's 2016 preliminary results announcement next spring and current finance boss Mark Gregory will step down at the same time.

Gregory will remain an employee of the company until 31 August, L&G said in a statement, to help smooth over the handover process.

Read more: Investment in Legal & General's build to rent fund hits £1bn

Davies leads the European risk and actuarial insurance services practice at EY, where he has worked since 2004.

Before joining EY, he held several senior actuarial roles at Swiss Re Life & Health.

Read more: Chesnara shares go boom boom boom after Dutch purchase

L&G chairman Sir John Kingman said:

I am delighted Jeff has been appointed as group chief financial officer. He has deep insurance experience and expertise, and will be an excellent addition to the group board as we take Legal & General forward on the next stage of our strategy of growth. Mark has been an outstanding group chief financial officer. I would like to thank him for agreeing to stay with Legal & General until the summer.

Kingman was one of the Treasury's most experienced officials before joining L&G in October.

Last month, L&G completed its £1.1bn Rolls-Royce pension buyout.

Related articles