As a result, Sally Clayton, will take over from Rajkumar as chief risk officer for Legal & General Retail.

As group climate director, Moxley will be responsible for leading and executing climate strategy, approach, targets, reporting, and governance across the group.

In addition, Moxley will drive the coordination of the group wide development of investment and societal opportunities that the journey to net zero generates.

He joined the firm in 2017 as CRO of Legal & General Retirement. Most recently, he was chief financial officer of LGRI for nearly fie years, overseeing growth and the implementation of IFRS 17. Moxley takes over from Simon Gad, who is moving into an advisory role.

Rajkumar has been with the company for almost ten years and held several senior risk roles.

Clayton was previously chief risk officer for Legal & General Home Finance and has worked in financial services for almost 30 years. She worked for firms including Friends Provident, Skandia Life and AXA Wealth.

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Andrew Kail, Chief Executive Officer, Legal & General Retirement Institutional: “I’m delighted to welcome Nimol as our Chief Financial Officer. His extensive experience ideally positions him to drive the division’s strong financial performance during this growth period in our market.

“I’d also like to thank Carl and congratulate him on his new role as Group Climate Director. His strong track record of strategic delivery makes me confident he will successfully lead our climate strategy, seizing opportunities on our path to net zero.”

Bernie Hickman, CEO, Legal & General Retail: “Sally will be an excellent addition to the Legal & General Retail executive team, bringing a wealth of experience from her previous roles, helping us strengthen our offering. In an ever-changing regulatory and technological environment, her expertise will provide vital support to the Retail division.

“I would like to wish Nimol well in his new role and to thank him for his fantastic work in the Risk function.”

Carl Moxley, Group Climate Director, Legal & General: “Climate change is a systemic issue impacting us all and is increasingly influencing both the economies and societies across the world. It is exciting to have an opportunity to be able to lead and work across the wider business to position us most effectively to execute our climate strategy and deliver our transition plan for society and our shareholders.”