Legal & General (L&G) chief executive Sir Nigel Wilson (pictured) has announced his decision to retire.
He joined the firm in 2009 as chief financial officer before being appointed CEO in 2012.
In an announcement to the stock exchange, L&G confirmed Wilson will stay on while the process of appointing a successor takes place, which is envisaged to take a year.
During his tenure, L&G’s share price has risen over 600%.
Wilson said: “L&G has been a big part of my life and my decision to retire from the group has been taken with mixed emotions. It has been an honour and privilege to serve as chief executive of L&G over the past decade and I am deeply proud of everything we have achieved. It has been a remarkable team effort by all my colleagues across the world.
“Without their unstinting efforts we would not have achieved the tremendous success we have. I have also benefitted hugely from the support of an outstanding board. I firmly believe we have laid strong foundations to support the next phase of growth for the group, with one of the most talented, collaborative and collegiate management teams in any industry to deliver this.
“I remain fully committed to delivering the current strategy of the group, in partnership with the executive team, and supporting the transition to a new chief executive.”
L&G chair Sir John Kingman praised Wilson’s achievements, labelling him a “tireless champion” for responsible investment.
Wilson was knighted for services to the financial services industry and regional development in the 2022 new year’s honours list.