#22 L&G CEO: 'This Is Our Moment' for the UK Economy

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As CEO of financial services giant Legal & General, António Simões plays a huge role in the UK economy, not to mention in the financial wellbeing of tens of millions of people. From managing pension funds to massive infrastructure spending around the country, he oversees well over a trillion dollars’ worth of UK assets. Simões took the top job at the beginning of 2024, and he tells Will Bain how from the start he has been dedicated to maintaining a corporate culture with a healthy work-life balance. Bullish on the UK economy, Simões says the country sometimes spends too much time ‘talking itself down’ and that with its fundamental strengths the UK is one of the most stable economies in the world. But, he says, there are still big worries for young Britons’ futures. He tells Will he’s concerned about the low levels of pension enrolment around the country and says more financial education is needed for people to understand the “eighth wonder of the world”: compound interest. He also tells Will about L&G’s massive investments around the country, from digital infrastructure and energy storage to affordable homes. And he says that despite a backlash against ESG and diversity programmes in recent years, he believes those are essential to ensuring returns for investors, and the country, far into the future. Presenter: Will Bain Producer: Olie D'Albertanson Editor: Henry Jones 00:00 Sean Farrington and Will Bain introduce the episode 02:00 António Simões interview begins 02:21 Maintaining work-life balance and corporate culture 05:30 Britons not saving enough into their pensions and the need for more financial literacy 08:40 Addressing low pensions auto-enrollment, challenges for employees and SMEs alike 20:30 UK Growth - how to get there? 24:30 AI investments and 'bubble' fears 26:30 Government and private investments in new infrastructure around the UK 40:00 The continued value of diversity schemes and ESG amid backlash 41:30 The politicisation of the economy 42:30 Low gender and LGBT representation in the C-suite