Legal and General (L&G) workplace savings managing director Tony Filbin is due to retire and concentrate on his independent roles and governance, a spokesman has confirmed.
Filbin has been with the insurer for 34 years and will help it to implement a restructuring of the Legal and General Assurance Society (LGAS).
As many as 600 jobs are at risk in its protection and savings divisions following the formation of LGAS in July from the old savings, annuities and protection units.
The spokesman said: "Tony Filbin leaving L&G is actually outside of that restructure. Tony is helping with the implementation of the new structure but has decided to take retirement.
"He's decided to focus on his independent roles and governance and in the meantime he's continuing to work on the integration until early next year."
Staff have been informed of the job threat, which could see the insurer axe 10% of workers from the protection and savings units.
A spokesman previously said: "We aim to keep redundancies down to a minimum and provide redeployment in L&G where possible."
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