Legal & General appoint new chief financial officer and announce organisational changes

Legal & General have appointed Mark Gregory as group chief financial officer as it announces a new organisation structure to reflect its strategic evolution.

Gregory is currently chief executive officer of the savings business, growing its operating profit from £7m in 2008 to £133m in 2012 and assets under administration from £46bn to over £100bn in the same period. Gregory will be replaced by John Pollock.

Commenting, chairman John Stewart said:

I am delighted Mark has been appointed as group chief financial officer. Mark has now successfully delivered the first stage of the Savings transformation and the Board is looking forward to working with him as CFO.

Meanwhile, several other organisational changes are taking place, with Mark Zinkua taking responsibility for the unit and trust business of L&G Investments (which will become part of L&G Investment Management), while the annuities business will become a seperate division led by Kerrigan Procter.

Group chief executive Nigel Wilson said:

The successful turnaround of the savings business now enables us to re-organise our business in a way which best reflects customer needs and the increasingly digital distribution environment of RDR, auto-enrolment and platforms. Customers want straightforward access to our products and services and the new structure will enable us to deliver this and maximise the synergies between our businesses.