Legal & General Group plc is pleased to announce the appointment of Henrietta Baldock as Non-Executive Chair of its principal operating subsidiary Legal & General Assurance Society Limited (LGAS).
6 Feb 2018
Henrietta will take up the position of LGAS Chair on 6 March 2018. The appointment has been approved by both the Prudential Regulation Authority and Financial Conduct Authority.
Henrietta has extensive knowledge of the financial services and insurance sector through her 25 years’ experience in investment banking. Henrietta until recently was Chairman of the European Financial Institutions team at Bank of America Merrill Lynch (BAML), where she advised many boards in the sector on some of their most significant transactions.
Henrietta has a clear understanding of Legal & General’s business model, having been part of the BAML coverage team that has advised Legal & General for a number of years.
Henrietta Baldock commented “Legal & General is an excellent company and I am delighted to serve as the first Non-Executive Chair of LGAS. I look forward to working with Nigel Wilson and the Board in delivering LGAS’s growth strategy.”
Nigel Wilson, CEO Legal & General said “On behalf of the LGAS Board, I am delighted to welcome Henrietta as Chair. She brings complementary additional knowledge and experience to the collective skills of the existing LGAS Board. Her appointment is also another step towards our 50/50 by 2020 aspiration – promoting gender diversity across all levels of Legal & General.”
The current Board members of Legal & General Assurance Society Limited are Kevin Murphy, Christian Dinesen, Nigel Wilson (Chair and Chief Executive Officer) and Jeff Davies (Chief Financial Officer). Kevin Murphy and Christian Dinesen are Non Executive Directors and both joined the LGAS Board on 1 April 2016. Kevin was previously CEO of Irish Life and before that Irish Life & Permanent, having been CEO of the investment management and corporate businesses of Irish Life for nearly 20 years. He holds several other non executive positions including the Irish Stock Exchange and Canada Life International Re. Christian Dinesen previously headed the Standard & Poor’s European insurance practice and has held senior roles at Bank of America Merrill Lynch (BAML). He holds several other non executive positions including Allianz (UK) Limited.
Nigel Wilson, CEO Legal & General: On behalf of the LGAS Board, I am delighted to welcome Henrietta as Chair. She brings complementary additional knowledge and experience to the collective skills of the existing LGAS Board.
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
*as at HY 2023