Legal & General has announced Mike Fairey will retire from the board after three years’ service. The former second in command at Lloyds Bank has over 35 years experience in the City, having started his career at Barclays in 1967. He joined TSB Group before its merger with Lloyds and retired from the bank in 2008 before the merger with HBOS. He still sits on the Lloyds Group’s pension board. L&G declined to comment on Fairey’s successor.