Aviva head of retirement propositions Darren Dicks has been made redundant as part of the provider’s UK cost-cutting drive.
Last month, Aviva confirmed plans to cut up to 800 jobs in the UK as part of chairman John McFarlane’s efforts to reduce costs worldwide by £400m.
Dicks, who had been at the organisation since 2001, helped spearhead the provider’s entry into the fixed-term annuity market in June last year. His previous roles at Aviva include head of finance, head of protection marketing and head of annuity propositions.
Dicks says: “I would have preferred to stay at Aviva because I am passionate about annuities and I am passionate about equity release.
“But the focus and direction of the company has changed. I must admit it was a shock because I do enjoy working in the industry.”
Dicks has bought the Harrogate, York and Selby franchise of Premier Sport, an organisation which provides sports coaching in schools.
He says: “I will be focusing on making the franchise a success in the next year or so but I would like to return to financial services in the future.”
Aviva at-retirement director Clive Bolton says: “After 11 years with Aviva, we would like to thank Darren for his significant contributions to the business and wish him every success in his new business venture.”
Syndaxi Chartered Financial Planners managing director Rob Reid says: “The danger whenever providers start trying to cut costs by reducing staff numbers is the service will suffer. Aviva will need to make sure this does not happen or advisers will go elsewhere.”