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Aegon completes acquisition of BlackRock’s DC book

Rubber-Stamp-Approve-Attr-Sarah-Parrot-700x450.jpgAegon has completed the final stage of a deal to acquire all of BlackRock’s defined contribution platform and administration business in the UK.

In May 2016 Aegon revealed it would purchase BlackRock’s DC business to create a workplace savings platform.

Last week a court approved the deal so £15bn worth of assets and 450,000 customers can move to Aegon which has £38bn assets under administration.

Aegon plans to develop its workplace savings proposition under the leadership of new chief distribution officer Ronnie Taylor who joined from Scottish Widows in February.

Taylor says the completion of this deal enables Aegon to offer a full suite of DC products and broader workplace savings solutions to trustee and corporate clients.

He adds: “There has been a lot of work behind the scenes since we first announced this deal in May 2016. Now it’s complete we are primed to push on with an exciting schedule of developments that we look forward to sharing soon.”



Aegon apologises to advisers over Cofunds replatforming

Aegon has issued an apology to advisers in response to problems with the Cofunds replatforming. The firm is also increasing headcount in its operations team by redeploying 200 employees to help deal with any further issues. Advisers using the Aegon platform have reported numerous problems with it since it was integrated with the Cofunds business […]

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Ex-FCA advice boss takes role with Aegon

Former FCA advice director Linda Woodall has joined Aegon’s independent governance committee. Woodall stepped down from her role at the FCA in December last year. She was previously director of mortgages and consumer lending at the regulator. Woodall replaces Institute of Customer Service chief executive Jo Causon who served on the committee as an independent […]

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Aegon overhauls leadership as Mark Till made managing director

Aegon’s chief distribution and marketing officer, Mark Till is taking over the role of managing director for Aegon Digital Solutions, where he will oversee the platform’s workplace and protection businesses as the company continues its digital restructure. Till, who held multiple positions with Barclays for 22 years and has also spent time in marketing and […]

Testing the Foundation

The global economy isn’t headed into recession, at least not yet. This month, David Lafferty, Chief Market Strategist at Natixis Global Asset Management, examines current capital market and portfolio risks for signs of recession. Click Here for Capital Market Notes


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