Legal & General CEO Antonio Simoes announces major restructuring, merging key divisions and considering housebuilding business sale, focusing on Institutional Retirement, Asset Management, and Retail.
Legal & General's new CEO, Antonio Simoes, has unveiled a major overhaul of the insurance and finance firm, which includes merging some key divisions and considering the sale of its housebuilding business. Simoes aims to create a "simpler, better-connected L&G" and has announced a £200m share buyback as a first step in increasing returns to shareholders. The company will focus on three core divisions: Institutional Retirement, Asset Management, and Retail.
June 12, 2024
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