British insurer Legal & General Group Plc (LGEN.L) announced the appointment of Mark Gregory as Group Chief Financial Officer, effective July 1, 2013. Currently, Mark is the chief executive of the Savings business and has been a board member since January 2009.
Mark has led the transformation of the Savings business into a capital light and efficient asset accumulation business, growing operating profit from 7 million pounds in 2008 to 133 million pounds in 2012 and assets under administration from 46 billion pounds in 2008 to more than 100 billion pounds.
Following the Group CFO appointment, there are several other organisational changes reflecting the ongoing strategic evolution of Legal & General. John Pollock would assume responsibility for the Savings business creating an integrated protection and savings business; whie Mark Zinkula would be responsible for the unit trust business of Legal & General Investments, which would become part of Legal & General Investment Management. In addition, the Annuities business would become a separate business unit led by Kerrigan Procter.
The responsibility for the Savings business division would be assumed by John Pollock from 1 July 2013; while the unit trust business of Legal & General Investments would become part of LGIM, led by Mark Zinkula.
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