Legal and General has appointed Andy Humphreys to the role of marketing director for individual retirement.
He moves from being director of marketing at Just Retirement since May 2012 and head of group marketing at the firm since January 2007.
The hire follows L&G’s acquisition of equity release provider Newlife in April for a consideration of £5m.
The deal was first announced in February this year. At that time, L&G also entered into a funding agreement to be the sole funder of new lifetime mortgages originated by Newlife.
Since then it has launched an L&G branded lifetime mortgage product range, with lending expected to exceed £100m this year.
Mr Humphreys said: “I have joined Legal and General at a really exciting time with our recent launch into lifetime mortgages and emerging plans to become a leading force for years to come in the UK retirement market.”
Bernie Hickman, managing director for individual retirement, said that his knowledge of the marketplace and consumers will be invaluable as the group grows its presence in the retirement market.
“Over 60s in the UK have nearly £1,300bn in housing equity and we believe accessing this will become an increasingly popular way for many people to supplement their retirement income.”
ruth.gillbe@ft.com
