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Frequently described as “softly spoken”, Mr Breedon, 47, was previously head of the group’s investment division. His appointment gained the support of several City analysts, who considered him the best candidate for the top job.
Mr Breedon studied at Oxford and started his corporate career at Standard Chartered Bank.
He then went to the London Business School where he performed with distinction in gaining his MSc in business administration.
Joining L&G in 1987, Mr Breedon held a number of positions in funds and investment management.
In the past Mr Breedon has kept a relatively low public profile and has rarely been quoted in the financial press. “The majority of issues are best dealt with confidentially,” he said last year.
Lately, however, he has come out in support of Paul Myners, the embattled chairman of Marks & Spencer. As a major shareholder, with 4 per cent of the company, Mr Breedon has stated that he believes the company needs stability at board level.
He will take up the role of deputy chief executive on June 1, before assuming the chief executive's role next March.
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