David Hobbs, Aegon’s managing director investments and former chief executive of Cofunds, is leaving the company to head St James’s Place-owned discretionary fund manager Rowan Dartington.
Hobbs was previously chief executive of the Legal and General-owned Cofunds platform before it was acquired by Aegon in 2016. He will take on the role of chief executive at Rowan Dartington, subject to regaulatory approval.
There is no fixed start date for Hobbs yet but he will not be leaving Aegon until the summer.
Outgoing chief executive Graham Coxell is moving to the role of Rowan Dartington executive chairman.
According to a statement from the DFM, Hobbs will have a focus on growing the company’s presence in Ireland and Asia. Currently Rowan Dartington has a presence in the UK and Hong Kong but last month the business acquired Dublin-based pensions and investment firm Harvest Financial Services in its first move into the country.
Coxell says: “David is extremely well regarded and it is a real pleasure to welcome him to lead the great Rowan Dartington family under the ownership of our fantastic parent SJP. David is extremely well suited and unquestionably the best person for the job.
“My time with Rowan Dartington has been one of the most remarkable, enjoyable and rewarding journeys of my career and I feel honoured to have had the opportunity to lead such a fantastically talented team of people, and I will be proud to hand over the chief executive reigns to David later this year.”
Hobbs says: “I am delighted to be joining Rowan Dartington and taking on the challenge of leading them to even greater heights, delivering an excellent service for private clients, intermediaries and the SJP partnership. I can’t wait to start.”
An Aegon spokesman comments on Hobbs’ departure: “‘David has received an exciting opportunity to take on a chief executive position at a leading wealth management firm. We would like to thank him for his work over the years and wish him all the best for the future.”