Joining from Banco Santander, António Simões has been named Group Chief Executive Officer of Legal & General, subject to regulatory approval.
According to the announcement, his appointment follows a rigorous, global, selection process managed by Sir John Kingman, Group Chair.
Simões will succeed Sir Nigel Wilson as Group CEO. Sir Nigel has been Group CEO of Legal & General since 2012, and in January announced his intention to retire from executive life.
He will take up his post formally on 1 January 2024. In the meantime, Sir Nigel will remain as Chief Executive.
Sir Nigel will work closely with Simões to ensure a comprehensive handover and a smooth transition. Additionally, he will join the Board of Legal & General Group plc on appointment, at which point Sir Nigel will step down from the Board.
Sir John Kingman, Chair: “The Board is delighted to appoint António as Group CEO Designate. António brings a formidable leadership track record at the most senior level of financial services, working across complex, global organisations.
“In an excellent field, his energy, ambition and clarity of strategic thinking stood out, alongside his strong belief in the positive role that business should play in society.”
Simões is joining the company from Banco Santander, where he has been Regional Head of Europe since September 2020. In this role, he leads 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 this, 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.
Simões commented: “Legal & General is a great company with an iconic, highly respected brand, strong financial track record and a deep-rooted commitment to social purpose. I’m proud to be appointed as Group CEO to build on the success of Nigel and the team.
“This is a critical time for our industry, clients and customers, with emerging technologies, changing societal dynamics and wider economic forces presenting new challenges and opportunities that require all of us to adapt and evolve.
“I look forward to working with the Board and an exceptional team of colleagues to shape this important next chapter; delivering market leading solutions, sustainable shareholder value, and an enduring positive impact on society.”
