Legal & General has appointed David Hobbs as new CEO of Cofunds replacing Chris Last, who will retire at the end of October, after four months in the role.
Hobbs is currently managing director of operational services at Cofunds, having previously been managing director of Suffolk Life for three years.
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Last has joined Cofunds as chief executive in May 2013 following the departure of Martin Davis in the wake of the acquisition by Legal & General.
John Pollock, CEO of Legal & General Assurance Society, said:"The Cofunds journey under Legal & General stewardship has only just begun, and I look forward to working with Hobbs as we grow the platform’s assets under administration and enhance its customer propositions.
"Last has had a long and distinguished career at Legal & General, culminating with him becoming CEO of Cofunds. He has successfully guided Cofunds through its integration phase, delivered over £3m in annualized cost savings and almost £1bn in net new assets by the end of H1, leaving the business exceptionally well placed in the UK platform market," Pollock added.
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