Hints and tips:
...Simões, who joined the business from Santander, replaced Sir Nigel Wilson, L&G’s chief of more than a decade....
...On the same day, L&G chief executive Sir Nigel Wilson decried the “perpetual drift” of companies away from London’s stock market, attributing it in part to a decline in equity holdings among pension funds...
...L&G declined to comment....
...As L&G takes on liabilities, it creates assets to back them. Homebuilding has been a key aspect of Wilson’s tenure. L&G had acquired or built almost 1,000 affordable homes by the end of 2022....
...L&G’s retail business was also “bolstered” by rising individual annuity sales....
...L&G’s shares fell more than 2 per cent following the news, against a broadly flat FTSE 100 index....
...L&G’s latest Rebuilding Britain Index has found that attempts to “level up” UK regions are failing or stalling and that, in many cases, inequalities have widened....
...Wilson cited efforts by L&G to help 600 start-ups in its portfolio to expand. “We want to scale up a lot of those and we want those to be FTSE constituents in years ahead,” he said....
...Sir Nigel Wilson, chief executive of L&G, said that meeting the UK’s housing needs required “national and local collaboration coupled with modernisation of planning and construction, improvements to funding...
...L&G said the process to find a successor could take about a year, noting that Wilson will continue as chief executive until a replacement is found....
...G chair....
...“Despite volatile markets, the group’s annuity portfolio has not experienced any difficulty in meeting collateral calls and we have not been forced sellers of gilts or bonds,” L&G said in a statement....
...Sir Nigel Wilson, L&G’s chief executive, said the speed of the bond sell-off had “caught us all by surprise”....
...L&G took on £4.4bn in new bulk annuity premiums in the first six months of the year, including its largest ever US transaction, compared with £3.1bn in the first half of last year....
...L&G boss Nigel Wilson has been lobbying for an overhaul of the Solvency II rules that would unlock capital to invest in levelling-up projects, infrastructure and green assets....
...“It is fair to say we have more active conversations then we have ever had in the 35-year history we have been doing [risk transfer] business,” said L&G chief executive Sir Nigel Wilson....
...Coming up, we know already that the chief executives of Hargreaves Lansdown and Unilever are set to step down this year, and Nigel Wilson revealed that he is clocking off after 11 years at L&G....
...Kingman will retain his role at L&G, but has stood down as chair of Tesco Bank....
...“[The] biggest risk for L&G is that this crisis has discredited the firm’s risk management abilities....
...Speaking to the Financial Times on Thursday, L&G’s chief executive Nigel Wilson questioned whether freed-up investment would indeed reach UK projects....
...“We shouldn’t give up on DB because the average duration is still 15 years,” says Nigel Wilson, chief executive of L&G....
...L&G chief executive Sir Nigel Wilson welcomed what he called a “collaborative solution” after months of talks between the government, regulator and industry....
...Not all investors warm to L&G’s do-goodery. But they should not be put off....
...Nigel Wilson, chief executive of L&G, said employees were attracted by the idea of “a business with purpose”, suggesting this had enabled his organisation to retain, and improve the quality of, staff....
...State of Mind”), Jay-Z (“D’Evils”), Big L (“The Enemy”) and The Notorious B.I.G. (“Kick in the Door”), he has made a habit of producing their best songs....
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