Legal & General group has appointed António Simões as its new group CEO to replace Sir Nigel Wilson who is retiring.

Legal & General chief executive Sir Nigel Wilson will retire this year once a replacement is found, after more than a decade in the role and 14 years with the firm.

Former work and pensions committee chairman Frank Field has been recognised for his “lifetime of public service” in the Queen’s New Year Honours list.

Legal & General today reported a record rise in annuity sales in 2018 to over £10bn - suggesting that the predicted death of annuities following the Pension Freedoms may have been overdone.