New Legal & General chief reveals plans for sweeping overhaul

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Antonio Simoes, who took over as group chief executive from Sir Nigel Wilson in January, told shareholders he is looking to create a “simpler, better-connected L&G”. L&G also set new targets for its institutional retirement operation, with plans to grow the business internationally to help improve its operating profits. As a whole, L&G’s new boss said he is hoping to secure compound annual grow of between 6% and 9% for its core operating earnings for the next three years. “Our vision is for a growing, simpler, better-connected L&G, focused on three core business divisions, and set apart by our shared sense of purpose and powerful synergies.” AJ Bell investment director Russ Mould said: “The new chief executive of Legal & General will likely be stung by the market reaction to his new strategic plan.