Update: Davis hands over to L&G's Last as CEO of Cofunds

Cofunds CEO Martin Davis is to leave the business following a restructure in the wake of its sale to Legal & General (L&G).

Davis intends to leave following the completion of the acquisition of Cofunds by L&G, which is expected to be in the first half of this year. He joined the platform in June 2011, after a stint as CEO of restricted advice firm Openwork. His replacement will be Chris Last, who has been appointed as chief executive designate of L&G's Cofunds Business Unit, subject to FCA approval. Prior to this role, Last was head of strategic opportunities at the Legal & General Savings Business. Commenting on the appointment, Mark Gregory, CEO Savings at Legal & General, said: "Martin Davis and the Cof...