View more on these topics

Aegon picks Young as life and pension COO

Aegon has appointed Tommy Young as chief operating officer of its life and pension business.

He takes over from Simon Skinner who was appointed Aegon Ireland chief executive last month. Young joins the Aegon leadership team, the insurance executive committee and will lead all aspects of Aegon’s business operations including IT and customer services.

He joined Aegon in 2009 as governance and controls director of its sales and distribution business. Since June 2010, Young has been responsible for leading the implementation of Aegon’s restructure and cost-saving programme. He was previously HBOS head of commercial banking for England and Wales.

Aegon says Young’s priorities for 2011 will be to complete the cost-saving programme, which aims to deliver a 25 per cent reduction in operating costs by the end of 2011.

He will oversee the transition of the Guardian closed life and pension business to European private equity group Cinven, following an acquisition deal announced in August.

Young will also lead the programme to correct historical issues with Aegon’s customer policy records.

Aegon UK chief executive Adrian Grace says: “Tommy has excellent COO credentials with a proven track record in delivering significant operational improvements and a strong background in customer service.”

Aegon UK’s earnings for the second quarter halved to £9m from £18m in the second quarter last year as the firm’s distribution businesses, Positive Solutions and Origen, made combined losses of £1m.

Syndaxi Chartered Financial Planners managing director Robert Reid says: “Adrian Grace is moving the Aegon business towards a more commercial structure than it was previously and this is the next move in that strategy.”


Ex-Cofunds chief Brett Williams joins Insynergy

Former Cofunds chief executive Brett Williams has joined investment boutique Insynergy Investment Management as a non-executive director. Williams is acquiring a shareholding in the business and will work alongside non-executive chairman James Caan and founder and chief executive officer Spike Hughes. In addition to be being the former chief executive at Cofunds, Williams has also […]


IFP says simplified advice needs to be built from scratch

The Institute of Financial Planning is calling for a full review of simplified advice outside of the RDR, saying a thorough assessment from scratch could take up to two years. Last week, Money Marketing revealed the FSA has delayed publishing guidance consultation on simplified advice until later this year. In March, FSA chief executive Hector […]

Spring has sprung

Well, it’s been lovely to see a little bit of sunshine, even if it was only a brief appearance. I live in Scotland so, believe me, it was very brief.  Of course, with even the tiniest hint of spring, thoughts turn to the inevitable clearout that must take place.  And that got me to thinking […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm