Legal & General (L&G) has announced significant changes in its leadership, with Laura Mason named as the new Chief Executive Officer of its Retail division. Mason, who is currently serving as CEO of L&G’s private markets division, will take up her new role in December, succeeding long-serving executive Bernie Hickman. Hickman, who has been with L&G for an impressive 26 years, is set to leave the company.
Bringing with her vast experience from across the business, Mason is well-versed in the company’s operations, having been part of the team that launched L&G’s alternative assets division. Prior to her time at L&G, Mason worked as a consultant at Towers Watson, where she spent eight years advising some of the UK’s leading life insurers.
Hickman, whom she will succeed, has held a range of high-profile positions at L&G throughout his career. These have included leading roles in retail protection, individual retirement, and insurance. He is also noted for co-founding L&G Home Finance and was pivotal in the growth of key areas such as workplace savings, annuities, and mortgage services.
Also joining L&G’s senior ranks is Katie Worgan, who will step into the role of Group Chief Operating Officer in early 2025. Currently serving as Managing Director and COO of consumer relationships at Lloyds Banking Group, Worgan will oversee key areas such as operations, technology, digital strategy, and property for L&G.
L&G CEO António Simões welcomed the new appointments, stating: “We are making rapid progress on our vision for a growing, simpler, better-connected business. Today’s leadership appointments reflect our intention to continue to move at pace to implement our strategy.
“Laura is an exceptional leader whose knowledge of L&G and expertise across our businesses will help us further strengthen collaboration across our divisions to drive profitable growth in Retail, while Katie combines a global, customer centric mindset and technical expertise with proven experience leading large and complex businesses through transformation. I am confident both will have a big impact in their new roles.
“I’d like to thank Bernie for his leadership and services to the Group over more than two decades, and for his contribution over the past year as we have formulated our strategy for the future and positioned Retail for growth. He leaves the business in excellent shape and I and everyone at L&G wish him well for the future.”
Reflecting on her appointment, Laura Mason said: “Our Retail businesses are foundational to L&G, reflecting our roots in insurance as well as being an important growth opportunity for the Group as we expand our workplace retirement proposition. I’m delighted to be taking leadership of our talented team to deliver an exciting strategy that will see us deepen our support for customers throughout their lifetimes.”