THE CITY watchdog has effectively blocked Legal and General’s (L&G’s) attempt to recruit KPMG’s Oliver Tant from taking the vacant role of chief finance officer.
The insurer has been looking for a finance boss for a year, but the group’s latest effort to plug the gap at the top of the business has been rejected.
Tant walked away from the selection process when it became clear the newly founded regulator, the PRA, was concerned he did not have enough experience of the insurance sector.
Tant is expected to leave his job at KPMG soon after making a play for but losing out on the top job at the firm to Simon Collins. Tant is the former UK head of audit at KPMG.
L&G has been looking to recruit a new finance chief for a year.
City A.M. Reporter