LV= chief executive Mike Rogers will step down from the role he has held for 10years.
Rogers (pictured) will leave the mutual when it appoints a successor, which is expected to take place by the end of the year.
As chief executive of LV= Rogers oversaw the sale of the company’s advice arm to AIM-listed Lighthouse Group in 2007.
Last year LV= returned to the advice market when it acquired a majority stake in robo-advice firm Wealth Wizards. The life company has set up its own robo-advice proposition called Retirement Wizard.
Under Rogers LV= also closed its banking division in 2007 after it suffered years of heavy losses, and sold its asset management business to Threadneedle in 2011.
LV= chairman Mark Austen said Rodgers improved the financial performance of the company since starting in 2006, when it posted a £20.1 million operating loss. In 2015 it posted an operating profit of £195 million in 2015.
‘Under his leadership LV= has been transformed into the successful and profitable financial mutual it is today with a special place in the financial services market,’ Austen said.
‘The process to appoint a successor is underway and Mike Rogers will continue to lead the business for the remainder of the year, and into 2017 as required, to ensure a smooth transition.’
Source: New Model Adviser