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PRESS: Legal & General hires advisers ahead of new strategic push

1st Mar 2024 16:14

(Alliance News) - Legal & General Group PLC has hired new advisers to help recently appointed Chief Executive Antonio Simoes with a strategic overhaul, Reuters reported on Friday.

Shares in L&G rose 0.5% to 243.30 pence each in London late on Friday afternoon.

Reuters said analysts think the FTSE 100 group's new chapter under the former Santander and HSBC executive could feature more investment into pensions and overseas growth.

The changes to the British insurer's advisers come as Simoes plots a new strategy for one of the UK's largest insurers, which one source told Reuters he will unveil around summer.

Reuters said L&G has chosen investment banking boutique Robey Warshaw, whose partners include former British chancellor George Osborne, as strategic adviser for matters including future takeover and activism threats.

Robey Warshaw is taking over from investment bank Lazard, said the sources, who spoke on condition of anonymity.

By Jeremy Cutler, Alliance News reporter

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