Legal & General Group Plc on Tuesday named Andrew Kail as its next Group Chief Financial Officer, succeeding Jeff Davies who is stepping down.
Kail, currently the chief executive of the company's largest business, Institutional Retirement, will take on the new role effective Dec. 1, subject to regulatory approval, the company said.
He joined the insurer in 2021 and previously spent 30 years at PricewaterhouseCoopers.
Davies, who has been CFO since 2017, is leaving to pursue another opportunity and will remain with the company until the end of 2025 to support the transition.
The leadership change comes as the British insurer recently completed a 500 million British pounds share buyback program and managed its debt profile through a bond buyback.
"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," Group Chief Executive Officer António Simões said.
Kail will receive a basic annual salary of 800,000 British pounds, according to the company.
Legal & General said a successor for Kail's current roles will be announced in due course.
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