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Legal & General announces Jackie Noakes to lead £105bn savings business

Jackie NoakesLegal & General has today announced Jackie Noakes (photo, right) will lead Legal & General’s £105 billion[1] Savings business, as Chairman of Cofunds[2] and Managing Director of Savings.

Nigel Wilson, Group CEO of Legal & General said: “Jackie’s outstanding data technology skills means it is excellent news for Cofunds and its customers that she has become its new Chairman. She has done a terrific job running the Mature Savings Business, and in her previous role as Legal & General’s Chief Information Officer. Cofunds' financial performance has been below our expectations, however Jackie’s digital skill set will be key to improving Cofunds' scalability, leading to greater profitability and better customer service.”

Jackie Noakes, Managing Director of Savings and Chairman of Cofunds said: “To succeed in the digital world platforms need size and scalability, brand recognition, customer focus, and great products at low prices. Cofunds has these building blocks in place. I relish the challenge of leading Cofunds, improving its profitability, and growing its customers and assets. My goal will be to ensure that Cofunds realises its true potential in the Savings market.”

Cofunds partners with over 17,500 advisers on behalf of 800,000 customers, delivering modern savings products, has assets under administration of £73.1 billion[3], and is the UK’s leading investment platform for financial advisers and other financial institutions.

 

[1] Assets under administration as at 30th September 2015

[2] Subject to Regulatory Approval

[3] As at 30th September 2015

ENDS.


 

For further information, please contact:

INVESTORS:
Laura Doyle Head of Investor Relations

020 3124 2088

Stephen Thomas Investor Relations Manager 020 3124 2047
MEDIA:
John Godfrey Corporate Affairs Director 020 3124 2090
Richard King Head of Group Corporate Communications 020 3124 2095

 

Notes to editors:

Legal & General Group Plc

Established in 1836, Legal & General is a leading provider of insurance, savings and investment management products in the UK. The Group has a market capitalisation of £14bn (as at 26 January 2016) and is responsible for investing £728bn worldwide (as at 30 September 2015) on behalf of investors, policyholders and shareholders. Legal & General has over seven million customers in the UK for life assurance, pensions, investments and general insurance plans and over one million customers in the US who rely on us for life assurance. In 2014, Legal & General's operating profit (on the IFRS basis) was £1,275m and earnings per share were 16.70p for the period, an increase of 10% for both respectively.

For more information on Legal & General, please see: http://www.legalandgeneralgroup.com/

Jackie Noakes biography

Jackie was appointed Managing Director, Mature Savings in January 2015. She is responsible for taking care of 1 million customers who have invested £29 billion of assets across individual pensions, bond or endowment products.

Jackie joined Legal & General in 2007 and has led a variety of shared services across the business including Group Procurement, Financial Reporting, Facilities Management and most notably IT in her capacity as Group IT Director. 

Prior to joining Legal & General, Jackie held senior IT roles at American Express and worked for Financial Services companies, including the Bank Of Ireland, Firemans Fund, Blue Cross & Blue Shield and Royal & Sun Alliance, living and working in Ireland, Sweden, Australia and America.

Forward-looking statements

This announcement may contain certain forward-looking statements relating to Legal & General, its plans and its current goals and expectations relating to future financial condition, performance and results. By their nature, forward-looking statements involve uncertainty because they relate to future events and circumstances which are beyond Legal & General’s control, including, among others, UK domestic and global economic and business conditions, market related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory and Governmental authorities, the impact of competition, the timing impact of these events and other uncertainties of future acquisition or combinations within relevant industries. As a result, Legal & General’s actual future condition, performance and results may differ materially from the plans, goals and expectations set out in these forward-looking statements and persons reading this announcement should not place reliance on forward-looking statements. These forward-looking statements are made only as at the date on which such statements are made and Legal & General Group Plc does not undertake to update forward-looking statements contained in this announcement or any other forward-looking statement it may make.

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