(Reuters) – Legal & General Group’s CEO Antonio Simoes earned 10.6 million pounds ($13.7 million) in 2024, his first year with the company, the life insurer and asset manager said in its annual report published on Wednesday.
Simoes took office on January 1, 2024, joining the London-listed firm from Banco Santander.
The CEO remuneration for 2024 included the buy-out of Simoes’ forfeited Santander remuneration, the annual report showed.
Legal & General earlier this month said it will return about $6.5 billion to investors via buybacks and dividends over three years as it tries to cement its confidence in a revamp, after reporting about a 6% rise in 2024 operating profit at 1.62 billion pounds.
Legal & General shares have gained about 8% under the leadership of Simoes.
($1 = 0.7714 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Mrigank Dhaniwala)
