António Simões will take over from Sir Nigel Wilson as Legal & General’s group chief executive.
Simões joins from Banco Santander, where he has been regional head of Europe since September 2020.
Prior to joining Santander, Simões spent 13 years at HSBC, including as chief executive of UK and Europe. He is a former McKinsey & Company partner.
The appointment follows a global selection process managed by chair Sir John Kingman.
Kingman said: “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.”
Wilson, who has served as group chief executive since 2012, announced his retirement in January.
Simões will formally take up the post on 1 January 2024, with Wilson continuing to act as chief executive in the meantime.
Simões said: “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.”
He added: “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.”
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
