L&G has appointed Andy Parsons and Lois Day as trustees of its Mastertrust as Meera Venu prepares to stand down after a three-year term in June.
Parsons has over 25 years of experience in the insurance industry and was previously CFO for Just Group until 2023 and served as CFO for LV= between 2017 and 2019. He has held senior finance positions at Lloyds Banking Group, as CFO of Scottish Widows and the Lloyds HBOS GI businesses, Friends Life, AXA and Zurich.
Parsons was an ABI board member from 2014 to 2016 and chair of the ABI Prudential, Financial and Taxation Committee. He is currently a non-executive director on the RSA UK&I Board and Canada Life and is also chair of their audit committee.
Day is a venture capital professional with investing, fund management and startup fundraising expertise and currently serves as a Venture Partner at IP Group plc. She worked in investment banking where she executed deals totalling over $22 billion across buy-side and sell-side M&A, debt financing and equity advisory. She was previously the executive director of the UK investment banking team at Goldman Sachs and vice president of the technology M&A team at Rothschild & Co.
Parsons and Day join the trustee board of L&G Mastertrust, which recently surpassed £30bn in assets under management and grew by a third in under two years.
Legal & General Mastertrust chair Robert Waugh says: “Following a robust recruitment exercise, I’m delighted that Andy and Lois will be joining our diverse and highly skilled Trustee Board. The Mastertrust has recently reached over £30bn of assets with over 2 million members and we recognise the importance of ensuring we continue to maintain a high calibre Board of Trustees to oversee the Mastertrust and its future growth. I would like to thank Meera for her unwavering support and contributions to the Trustee Board over the years and wish her well for the future.”
Legal & General Mastertrust trustee Andy Parsons says: “I am pleased to have the opportunity to join a passionate Trustee Board who are determined to put members first. Legal & General’s Mastertrust is the largest commercial Mastertrust in the UK and I look forward to contributing to its strong governance and future innovation. It is a privilege to be able to serve members, in particular as more approach retirement and I look forward to bringing my experience to the team.”
Legal & General Mastertrust trustee Lois Day says: “I am delighted to be appointed to the Trustee Board and have the opportunity to work with a Board that is deeply committed to delivering good member outcomes. In particular, I am keen to leverage my expertise in AI to explore how this technology can be harnessed for the benefit of members. I am also passionate about closing the gender pensions gap and ensuring all members have equal opportunities to secure the retirement they deserve.”
