Cofunds chairman Charlie Eppinger to step down

Eppinger, who was the driving force in negotiating the sale and has been with Cofunds for more than ten years, is retiring from the Cofunds board. The intention to acquire the remaining 75% of the share capital which Legal & General did not already own was announced to the market on 26 March 2013. The acquisition valued Cofunds at £175m, and Legal & General paid a cash consideration of £131m. Legal & General's savings business now has assets under administration (AUA) of £110bn as at 31 March 2013. The insurer has identified digital solutions as one of its five key drivers of growt...