Business & Economy
Sir Nigel Wilson to retire as Legal & General boss
January 30, 2023
The North East-born boss of a global financial services group behind huge investments in his home region is stepping down.
Sir Nigel Wilson is retiring as Legal & General chief executive.
Sir Nigel, who grew up in Darlington and County Durham, has overseen major cash injections in the North East, from Newcastle’s Helix science park to Sunderland’s Riverside scheme.
He will remain in post until a successor is appointed.
Under his stewardship, Legal & General has backed a number of seismic commercial ventures in the region.
Working alongside Newcastle City Council and Newcastle University, the business supported the creation of The Helix, with buildings including The Lumen and The Spark rising from the ground thanks to its backing.
A further £5 million outlay, described by Legal & General as a gift to the city, has also helped enhance care provision, by boosting the Future Homes Alliance project – which aims to support real-world ageing and environmental sustainability by testing new innovations and products – and work around creating a care home of the future.
On Wearside, Legal & General has helped bring new flavour to the city’s Vaux brewery site.
Fuelled by a £100 million commitment, it has supported the creation of City Hall and worked with developer Landid on two supplementary office buildings.
Elsewhere, it has pumped £60 million into plans to create around 1600 jobs at the 25-hectare Hillthorn Business Park, in nearby Washington.
Explaining his decision to retire, Sir Nigel said: “It has been an honour and privilege to serve as chief executive over the past decade, and I am deeply proud of everything we have achieved.
“It has been a remarkable team effort by all my colleagues across the world.
“I firmly believe we have laid strong foundations to support the next phase of growth for the group, with one of the most talented, collaborative and collegiate management teams in any industry to deliver this.”