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Aegon and ATS appoint new chairmen

Meeting-Business-Finance-Boardroom-700.jpgAegon looked to LV= for its appointment, while ATS hired a former regulator

Aegon and Alliance Trust Savings have both appointed new chairmen to oversee the running of their boards.

Aegon has appointed Mike Rogers, former chief executive of LV= as its new non-executive chairman. Rogers held this position at LV= for 10 years – between 2006 and 2016. Prior to this he worked at Barclays.

Meanwhile, Alliance Trust Savings has announced that former regulator Ron Baxter will be appointed chair of its board. Baxter has previously worked as a senior adviser at the FCA, the Prudential Regulatory Authority and the Bank of England.

ATS has set up its own independent board and executive team in the past 18 months, following changes at its parent company Alliance Trust.

Aegon’s chief executive Adrian Grace says Rogers’ experience in both banking and insurance make him an ideal person to take on the role.

Grace says: “His experience will help us to deliver on our strategy of supporting the financial advisers and workplace customers with the best tools and service in the market.”

Rogers adds: “Last year was a transformational year for [Aegon]. The business of integrating both the Cofunds and BlackRock DV businesses is progressing well and I’m looking forward to working with the management at a time when demand for financial advice, the growth of the DC savings market and the increasing requirement for scale in the platform market makes this an exciting sector of financial services.”

ATS chief executive Patrick Mill says: “Ron Baxter’s appointment is a huge endorsement for the work we are doing to create a market leading platform for advisers, direct customers and corporate partners based on a flat fee model.”

He adds: “Baxter’s experience with the regulator and extensive knowledge of the industry will be invaluable as we deliver on our ambitious plans to grow assets under administration.”

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  1. Let’s hope Ron Baxter has a magic wand. ATS remains in disarray, the extent of errors and delays across their business beggars belief.

    It could be such a great business – we’ve tried to support the fixed fee concept where appropriate.

    I don’t think the problems are due to lack of revenue, more a management team that’s struggling to re-platform and run an efficient administration service.

    Here’s hoping for some significant change, as our patience has been pushed beyond the limit for some time now…

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