Legal & General finally appoints finance director

INSURER Legal & General (L&G) has belatedly appointed a new finance chief following a year-long search

that was slowed down by regulatory intervention.

Mark Gregory, currently head of L&G’s savings business, will next month take up one of the top positions at the sprawling insurance giant.

However, it is understood Gregory was second choice after regulators blocked the appointment of KPMG audit chief Oliver Tant on the basis that he has limited knowledge of the insurance industry.

Despite this, Eamonn Flanagan, an analyst with Shore Capital, praised Gregory as an “excellent choice” who can boast “considerable operational experience within this pretty complex company”.

The vacancy arose after former finance chief Dr Nigel Wilson was promoted to the role of group chief executive last June.

Gregory’s promotion has coincided with an internal restructuring of key divisions.