Legal & General Group PLC (LSE:LGEN) has named António Simoes as its chief executive, succeeding Sir Nigel Wilson who is stepping down after 11 years at the helm.
Simoes joins from Banco Santander (LSE:BNC) where he has been regional head of Europe since September 2020. He has headed Santander's businesses in the UK, Spain, Portugal and Poland, working across retail and commercial banking, corporate and investment banking, wealth management and insurance.
Prior to joining Santander, he spent 13 years at HSBC, including as CEO of UK and Europe, and latterly CEO of Global Private Banking, based in London and Hong Kong. He is a former McKinsey & Company partner.
Sir John Kingman, chair, said Simoes “brings a formidable leadership track record at the most senior level of financial services”.
He will take up his position on 1 January 2024, with Wilson remaining in post until then.
Wilson joined L&G in 2009 as chief financial officer and was appointed chief executive in 2012.