In her three years at Legal & General, Byron has worked extensively to develop the strategy for Legal & General’s Retirement Division. This has included leading the retirement customer engagement project to implement Legal & General’s response to pensions freedoms. Most recently, she led the Group Financial Planning and Analysis function. Prior to joining L&G, Byron was a Principal in the financial services group at global strategy consultancy Oliver Wyman.
Emma’s appointment is another positive strategic development for Legal & General Retail Retirement following the appointment of Chris Knight as Managing Director for Legal & General Retail Retirement and the promotion of Steve Ellis to Managing Director at Legal & General Home Finance in February 2017.
Legal & General’s Individual Annuities business increased by 15% in 2016 and has made a very strong start to 2017 – sales to date have topped £300m, recording a growth of 120% year-on-year. The FTSE 100 company’s lifetime mortgage lender, Legal & General Home Finance, has also enjoyed significant growth since entering the sector in 2015 and achieved a 29% market share in 2016. Lifetime mortgage lending in 2017 to date has topped £360m, representing year-on-year growth of 90%.
Chris Knight, Managing Director of Legal & General Retail Retirement said: “Legal & General Retail Retirement has delivered a very positive start to 2017, with growth in Individual Annuities of 120%, and growth in Lifetime Mortgage Lending of 90%. With an increasingly ageing population looking for positive financial solutions in retirement, we have a huge opportunity to take a market leading position in providing guaranteed income to people who need and want it, particularly in these volatile markets where certainty is vital.
"Over the course of the past six months, we have invested further in the team at Legal & General Retail Retirement to build on that success. Emma will be a key part of the team and I‘m very confident she will do an outstanding job in building our individual annuities and related businesses.”
Emma Byron, Managing Director of Legal & General Individual Annuities said: “I’m delighted to be joining Chris’s team and I see huge potential for L&G in the individual annuities and wider retirement income space. More and more retirees are now seeing the benefits of a fixed, stable income-producing product in retirement. Legal & General has historically held a market-leading position in this sector and there’s every reason we can once again do just that.”
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