Legal & General Retail, which has 12 million retail customers and workplace members overing savings, protection, mortgage and retirement, has restructured its executive team with a number of key appointments.

These changes form part of its growth strategy to deliver better outcomes for customers, advisers, distribution partners and shareholders.

Lorna Shah takes on the role of managing director of retail retirement. She has responsibility for Legal & General’s retirement income business, which will become ‘retail annuities’. She also has commercial oversight of the workplace savings and personal investing businesses alongside UK and international mortgage expansion.

Katharine Photiou moves to the role of managing director of retail’s workplace savings business. She will focus on developing and delivering the workplace and personal investing product and proposition, servicing the existing 4.7 million members and growing customer bases.

Steve Davis has moved to be chief operating officer of the retail division. He will spearhead the introduction of a collaborative operational function across all of the retail businesses to leverage best practices and enhance customer experience. His role also sees him responsible for driving the overall strategy of the retail division and for increasing adoption of Agile ways of working.

Paula Llewellyn, chief marketing officer & direct managing director, in addition to managing the direct protection business and being CMO for retail as a whole, takes responsibility for Legal & General Financial Advice, which offers advice on later life lending.

The establishment of Legal & General Retail earlier this year, with Bernie Hickman as its chief executive officer, saw the provider’s retirement, savings, protection, mortgage services and fintech businesses coming together, allowing the division to better serve its diverse range of retail customers, distribution partners, advisers, corporates and consumers.

Hickman said: “As the UK’s number one workplace savings, protection and retirement brand our strategy is focused on providing peace of mind and financial confidence for every generation, whatever the future holds.

“Legal & General has a strong heritage, having served customers for almost 200 years, and these changes set us up to accelerate the growth of our business, putting our customers front and centre, and ensuring we can continue to provide easy to understand products, that will help people find financial security for themselves and their families.

“With our talented new executive team in place, we can focus on making positive progress to reimagine how we help customers create brighter financial futures.”