Simon Ellis is set to step down as managing director of investments at Legal & General (L&G).
Ellis (pictured) will be replaced by Simon Pistell, currently managing director of L&G's RDR programme. A spokeswoman confirmed the departure, but declined to give a date when the replacement will take effect.
Ellis, former head of UK retail at Henderson, joined L&G in 2009, and is also a non-executive director of the Financial Skills Partnership.
He was also managing director of Fidelity International multi manager for three years, and chief executive of AXA Investment Managers multi manager and head of UK retail.
Pistell joined L&G in 2001.