Legal & General CFO steps down after eight years
Legal & General's chief financial officer of eight years has handed in his resignation, the insurance, retirement and investment group announced on Tuesday.
Legal & General Group
30 September 2025 07:34:32
Source: Sharecast
Jeff Davies, the former EY partner who has been CFO of L&G since 2017, will stand down from the board in December to "pursue a new opportunity", staying until the end of the year to ensure a smooth transition.
Throughout his tenure, Davies helped to "shape L&G's strategic transformation, overseen significant regulatory change including the implementation of IFRS17 and Solvency II and has played a key role in a number of the group's key strategic transactions and partnerships," L&G said in a statement. He has also led the Corporate Investments unit since last year, overseeing the divestment of non-strategic assets.
The head of its Institutional Retirement division, Andrew Kail, named as the company's new CFO, in line with its succession plans.
Kail joined L&G in 2021, having spent 30 years at PwC, initial as chief executive officer of L&G's Retail Retirement unit. He has also been CEO of L&G Assurance Society (LGAS) – the largest entity in the group – since the beginning of 2024.
"In Andrew we have an outstanding CFO designate with deep knowledge of the different businesses of L&G and the key drivers of its performance," said L&G's CEO António Simões.
"He is already a valued member of my leadership team and has played a pivotal role in developing and driving the group's growth strategy."