Legal & General Starts Consultation Over HQ Closure

Julia Reinholdsson London 19 August 2015

Legal & General Starts Consultation Over HQ Closure

The London-listed insurance and investment giant is planning for the closure of its Kingswood head office.

The UK's Legal & General has confirmed plans to potentially shut down its headquarters in Surrey by 2017.

The closure of the head office could put at least 250 jobs at risk, according to reports. L&G said that if it were to happen, “the vast majority” of the 1,700 roles in Kingswood will be transferred to its Hove and Cardiff offices.

“Legal & General has started consultation with Unite that could potentially result with the Kingswood office being closed in 2017. The Kingswood office lease is up for renewal and therefore it is sensible to see if the work cannot be done in our other office in a way that could benefit our customers,” said a spokesperson for Legal & General.

The group's divisions include investment management, pensions, life insurance and general insurance. Earlier this month, Legal & General Investment Management posted a 12 per cent year-on-year jump in assets under management to £714.6 billion ($1.112 trillion) during the first half of 2015, largely thanks to international expansion.

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