L&G names new finance chief in management reshuffle

Life and pensions firm Legal & General today said that Mark Gregory, the head of its savings business, is to become group finance director at the start of next month.

Following Gregory’s promotion, the group said that John Pollock, chief executive of its protection and annuities business, will assume responsibility for the savings division, which has seen its assets under administration more than double to £100bn since 2008.

The annuities business will become a separate division, led by Kerrigan Procter, while Mark Zinkula, the boss of Legal & General Investment Management (LGIM), will take charge of unit trust operations at Legal & General Investments, which will become part of LGIM.

Gregory replaces interim finance chief Wadham Downing, who has been in the role since June last year, when previous finance director Nigel Wilson succeeded Tim Breedon as chief executive. Downing now becomes strategy and mergers and acquisitions director.

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 retail distribution review, 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.”