L&G has appointed Gareth Mee to be its new chief executive officer of institutional retirement.
Mee is currently L&G’s chief investment officer for this part of L&G’s business. He joined L&G in 2022 as chief financial officer of L&G Capital, and led its integration with LGIM to create the group’s asset management division.
Mee will replace the current CEO Andrew Kail, who has been appointed as group CFO. These new job positions will be effective from 1 December this year and subject to the usual regulatory approvals. Mee will also join L&G’s Group Management Committee.
Institutional retirement is L&G’s largest business, with the group’s total global annuity book standing at an estimated £96bn at the end of the first six months of 2025.
L&G is the UK’s longest-standing active bulk annuity provider with a stated ambition to write £50-65bn UK PRT over 2024-2028.
L&G said that in his time with the business, Mee has played a central role in developing several significant commercial relationships, including attracting third party capital towards the group’s direct investments, and most recently helping to shape the long-term strategic partnerships with Blackstone and Meiji Yasuda.
Before joining L&G, Gareth spent almost 20 years at EY and was a partner in the firm. He led their global investment advisory, UK actuarial and sustainable finance consulting practices.
He is also active in the actuarial profession, having recently completed his term as chairman of the Institute and Faculty of Actuaries’ Finance and Investment Board.
L&G Group CEO António Simões says: “[Mee] is a highly respected and trusted leader, with a track record of delivering innovative investment strategies and partnerships for our clients across institutional retirement and sset management, and our wider annuities portfolio.”
Gareth Mee, CEO designate, institutional retirement adds: “I am delighted to take on my new role. As the market leader, our best-in-class team is at the forefront of delivering innovative, risk-managed solutions that help pension schemes meet their promises to people around the globe.
“I look forward to working with my colleagues across L&G to continue to deliver on our exemplary track record in the PRT industry.”
