Cofunds CEO Chris Last to retire

Chris Last, chief executive officer of platform provider Cofunds, will retire at the end of October, after four months in the role.

Mr Last was appointed chief executive of Cofunds shortly after L&G’s acquisition of the company announced in March and completed in May 2013.

He had joined L&G in 1972 as a calculations clerk, and became managing director of L&G’s banks and building societies distribution division before taking up his most recent role.

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New Cofunds owner Legal and General has appointed David Hobbs as the new chief executive subject to regulatory approval.

Mr Last said: “I’ve had a fantastic career at Legal and General, and I wouldn’t change any of it.

“With the successful integration of Cofunds into Legal and General now complete, I believe the time is right for me to retire.”

Several high-profile departures followed L&G’s acquisition of Cofunds, including those of former Cofunds chief executive Martin Davis and former Cofunds chairman Charlie Eppinger.

Former Cofunds director of marketing Verona Smith left the platform in May. In July, former Cofunds head of fund group relations Michelle Woodburn announced her departure.

John Pollock, chief executive of Legal and General Assurance Society, said: “Chris has successfully guided Cofunds through its integration phase, delivered over £3m in annualised cost savings and almost £1bn in net new assets by the end of H1, leaving the business exceptionally well placed in the UK platform market.”