(Alliance News) - Legal & General Group PLC on Thursday said Banco Santander SA's regional head of Europe, Antonio Simoes, will join the company as chief executive officer.
The London-based financial services and asset management company said Simoes will succeed Nigel Wilson, who in January announced his intention to retire after more than a decade in the role.
Wilson will remain CEO until Simoes formally takes up his post early next year.
Chair John Kingman said: "I look forward to working with Antonio to ensure that Legal & General continues to deliver on its enormous potential for our shareholders, employees, customers and the communities of which we are a part."
Banco Santander on Thursday said CEO of Portugal Pedro Castro e Almeida will replace Simoes as regional head for Europe in September.
The Madrid-based lender said Castro e Almeida will maintain his current position, which he has held since 2019.
Santander Executive Chair Ana Botin said: "Pedro has done a great job in leading Santander Portugal, positioning the bank as a leader in customer satisfaction, efficiency and profitability, and a model for successful transformation. He is the right person to take the region forward and build on the progress Antonio and the team have made in advancing towards One Santander."
Shares in Legal & General were down 1.9% at 233.60 pence each in London on Thursday morning, while Santander shares fell 1.8% at EUR3.19 each in Madrid.
By Sabrina Penty, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Legal & General (LGEN)
