Mark Gregory, the group chief financial officers of Legal & General, has announced his intention to retire in January 2017.

Mark has been with L&G for 17 years and for the last seven, has served as an executive director on the board, initially as chief executive officer of the savings business and subsequently as the group chief financial officer.

Mark will remain as the CFO until his successor is appointed and will ensure there is a smooth handover.

Gregory issued a statement saying although it was a difficult decision, he feels it is the right time for him to retire.

He said: "During my long career with Legal & General, I have been fortunate to have had a wide variety of roles with the Group from running large functions such as our UK customer services, to being CEO of our Savings business and finally as Group CFO.

"My time since becoming Group CFO has coincided with a period of significant regulatory change resulting from the introduction of Solvency II and it is pleasing to have secured approval for all our applications.

"I've really enjoyed my time with Legal & General and the company is in great shape."

He added that he looks forward to presenting the full-year results in March and helping to deliver the strategy over the coming year.

Nigel Wilson, the group's chief executive, thanked his colleague, who he says made a "terrific contribution" to the company.

He said: "Mark has been a great partner - I thoroughly enjoy working with him and I thank him immensely."

John Stewart, chairman of Legal & General, added: "Mark was appointed to the board at the start of 2009 at what was a very difficult time for all companies in the financial services sector.

"The success Legal & General has achieved since then is in no small part due to the contribution that Mark has made, both as an effective executive and as an astute and insightful board colleague."

First published 11.02.2016

Lindsay.sharman@wilmingtonplc.com