L&G acquisitions director exits

Legal & General’s mergers and acquisitions director Wadham Downing is standing down at the end of the year and will leave the firm in June.

The group has made seven “bolt-on” acquisitions since the company created its M&A strategy in March last year.

Purchases have included CALA Homes, Lucida and US-based Global Index Advisors.

Downing acted as interim group chief financial officer from June 2012 till July 2013.

L&G says the transactions boosted the company’s growth, especially in investment management, retirement and digital lifestyles. 

“Under Wadham’s leadership the group has established credibility in delivering successful bolt-on acquisitions alongside organic growth,” the group says. 

Legal & General group chief executive Nigel Wilson says Downing has played a significant role in the company’s transformation during his five years with the group.

“He has always demonstrated a great deal of passion, integrity, commercial acumen and professionalism in his roles as group CFO and M&A director,” Wilson says.

“He is a great colleague and a consummate finance professional – I am sorry to see him go and wish him the very best for the future.”

Downing says L&G is a great company that he is proud to have worked for.

“Having been group CFO and group M&A director it now seems a natural time for me to move onto the next challenge.”