Aegon UK group marketing director Paul McMahon is to join FNZ as chief executive of UK business.
McMahon joined Aegon as group marketing director in February 2011. He was appointed to lead the Aegon Retirement Choices wrap in April last year.
Prior to Aegon he was Friends Provident managing director of UK corporate. He will take up his new role with wrap technology provider FNZ towards the end of the year but will leave Aegon immediately.
FNZ group chief executive Adrian Durham says: “We are delighted to have someone of Paul’s calibre join FNZ. Paul will be responsible for all functions in the UK and will ensure that we continue to provide outstanding service to our customers, help them rapidly grow assets on platforms further and ensure that they are the winners in this rapidly evolving market.”
McMahon (pictured) says: “I have been actively involved with FNZ as a customer since very early in its evolution. I admire the impact FNZ has had in transforming the UK savings and retirement market, both ensuring that all of its customers are successful in the platform space, and rapidly building a highly successful business from a standing start a few years ago.”
FNZ powers platform propositions for Axa, Standard Life, Zurich and Friends Life.
Aegon UK chief executive Adrian Grace says: “Due to the competitive nature of Paul’s appointment at FNZ, he will leave Aegon UK immediately. He will be taking up his position with FNZ toward the end of this year. Aegon will seek to appoint a new marketing director and will make a further announcement on this in due course.”