Claire Singleton (pictured) has stepped down from her position as chief executive of Legal & General after 10 years with the group.

Craig Brown, currently the director of intermediary for Legal & General Insurance, will take over as chief executive of Legal & General Home Finance on 28 February.

Singleton will also step down from her role on the board of the Equity Release Council (ERC).

Singleton has decided to return to a group general counsel position.

Brown joined Legal & General in 2012 and has held several senior commercial and operational roles during that time, most recently leading the distribution of protection products via intermediaries.

Bernie Hickman, chief executive of Legal & General Retail, said: “Having co-founded Legal & General Home Finance in 2015, I remain passionate about the potential value of property to achieving better retirement outcomes for people in later life.

“Lifetime and RIO mortgages can help meet a diverse range of challenges across customer demographics, from interest-only mortgage capital repayments to wealth planning.

“Craig brings both an essential understanding of the intermediary landscape and broad commercial experience, making him ideally placed to grow our market share.”

Brown added: “I’m absolutely delighted to be continuing my career at Legal & General with this new position, and I’m looking forward to working with a talented team of individuals to develop and grow what is already an excellent business.

“I think there is a huge opportunity with the growing relevance of property to people’s long-term planning, to move later life lending into the mainstream – and I believe Legal & General can play a key role in leading this transition.”