Press releases

Legal & General strengthens Retirement Lending management team

Steve Ellis confirmed as Managing Director of Legal & General Home Finance

31 Jan 2017

Following the recent announcement of Chris Knight as the Managing Director of Legal & General’s Retail Retirement Division, Legal & General has today announced the appointment of Steve Ellis as Managing Director of Legal & General Home Finance. Steve previously held the position of Chief Operating Officer within the business.

Steve has been fundamental to the successful entry of Legal & General into the lifetime mortgage market having led the acquisition of Newlife for the Group in 2014. He has been with Legal & General since 2007 and has previously run a number of operational areas in Corporate Risk and Annuities. Previously, he successfully managed large scale operations for outsourcing organisations and was a management consultant for GE Capital businesses in the UK and US.

Chris Knight, Managing Director, Retail Retirement at Legal & General said:

“’I’m pleased that Steve has accepted the role of Managing Director for our Retirement Lending business. Steve’s appointment brings important continuity to Legal & General Home Finance as the business enters its next phase of rapid innovation and growth.”

Steve Ellis, Managing Director, Legal & General Home Finance said:

“I’m delighted to be continuing the journey with our retirement lending business. We have built a fantastic proposition and market share in the short time that we have been in the Lifetime Mortgage market. We have some exciting plans for 2017 which we expect to help the market continue its strong recent growth.”

Notes to editors

Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at FY23) of which c40% (circa £0.5 trillion) is international.

We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.

As at 7 June 2024, we estimate the Group’s Solvency II coverage ratio to be 224%.

As at 11 June 2024, Legal & General has a market capitalisation of £14.6 billion.