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Aviva Investors chief exec to step down

Aviva Investors chief executive Alain Dromer is leaving the company as part of a wider global restructure of the Aviva business.

Aviva says its will recruiting a successor to Dromer (pictured) who will report to Aviva group chief finance officer Pat Regan.

Regan will continue in his role as chief finance officer and will assume responsibility for Aviva Investors.

Aviva has announced further changes to the way the company is structured, which it says reflects the fact that it operates in “materially fewer countries”.

The three chief executives of Aviva’s largest businesses will join the company’s group executive committee, subject to regulatory approval.

UK and Ireland chief executive for life insurance David Barral, UK and Ireland chief executive for general insurance David McMillan, and France chief executive Philippe Maso will join the GEC, and will report directly to Aviva group chief executive Andrew Moss.

USA chief executive Chris Littlefield will also report to Moss.

UK chief executive Trevor Matthews will become executive director of developed markets. He will be responsible for chairing the UK and Ireland board and have direct responsibility for Aviva’s businesses in Canada, Italy and Spain.

Matthews will also develop group-wide capabilities for underwriting, pricing, and claims management.

Asia Pacific chief executive Simon Machell will become chief executive of higher growth markets.

In addition Aviva Europe chief executive Igal Mayer has resigned and will leave the company at the end of May. Aviva North America chief executive Richard Hoskins is also leaving the company.

Group chief executive Andrew Moss says: “The changes I am announcing today will result in a simpler and more efficient organisation which will deliver further operational benefits, accelerate delivery of our strategy and provide opportunities for profitable growth.

“I am pleased to welcome David Barral, David McMillan and Philippe Maso to the group executive committee. I would also like to thank Igal Mayer, Richard Hoskins and Alain Dromer for their enormous contribution to Aviva and wish them well for the future.”

Money Marketing revealed in March Aviva Investors UK funds chief executive John Clougherty had left the company, with chief operating officer of the UK collectives business Tim Orton taking over Clougherty role until a replacement is appointed.

In January, Aviva Investors announced it was to cut 160 jobs worldwide in a bid to reduce its presence in the retail space, with its London-based European, emerging markets, global and SRI equity desks closing.

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