British insurer Legal & General Group Plc (LSE:LGEN) is lining up investment bank Rothschild to oversee a potential sale of its housebuilder arm Cala, a source familiar with the matter told Reuters, as new Chief Executive Officer Antonio Simoes weighs a strategic overhaul. Legal & General (L&G) has held discussions with Rothschild about potentially running a sales process for Cala, but no final decision on offloading the business has been made, the source said. Sky News first reported on the discussions.

Cala did not immediately respond to a request for comment.