Aviva Investors chief executive of UK funds John Clougherty has left the firm amid a shakeup of the business and widespread job cuts.
This week, Moneymarketing.co.uk revealed that Clougherty, who joined Aviva Investors in June 2005, had gone on gardening leave. He has been
replaced on an interim basis by chief operating officer of the UK collectives business Tim Orton.
Clougherty’s departure follows Aviva Investors’ announcement in January that it is closing its London-based European, emerging markets, global and sustainable and responsible investment equity desks and cutting 160 jobs worldwide to reduce its presence in the retail sector. The bulk of the job losses will be in London.
In February, Money Marketing revealed that Aviva Investors’ SRI team and £1.1bn fund range are being sold off.
An Aviva spokeswoman says: “We are making some internal reorganisational changes in our UK life business.Clougherty has decided it isthe right time for him to pursue other opportunities. We would like to thank him for his contribution.”