Legal & General appoints Steve Ellis (pictured) as chief executive of retail retirement living solutions, taking up the position at the beginning of April.

The new role was created to support customers financing and living in retirement in the UK. 

Claire Singleton will succeed Ellis as chief executive of home finance at the end of the year, following the completion of the transfer of the Mature Savings business to ReAssure, part of the Swiss Re Group. 

Ellis and Singleton will report to Chris Knight, chief executive of retail retirement.

Nigel Wilson, group chief executive of Legal & General, commented: “Claire and Steve have done great jobs in mature savings and Legal & General home finance. We want people to achieve longer, happier, healthier lives in retirement, but finding and funding care is the elephant in the room – it is a broken market that needs to be fixed.

"This is precisely the kind of challenge where Legal & General’s inclusive capitalism, our brand and balance sheet can make a difference.”