Legal & General Taps Outsider From Santander for Group CEO
- Antonio Simoes to replace Nigel Wilson at the top on Jan. 1
- Wilson has held the CEO job at the UK insurer for a decade
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Legal & General Group Plc has named an outsider as its next chief executive officer to replace Nigel Wilson, who’s stepping down after more than a decade at the helm.
António Simões, who’s been the regional head of Europe at Banco Santander SA, is set to lead the UK insurer starting Jan. 1, according to a statement Thursday. The former McKinsey & Co. partner spent 13 years at HSBC, including as CEO of UK and Europe, before joining Santander. He’ll receive a base salary of £1.18 million ($1.5 million) plus bonuses and compensation for leaving the Spanish bank.