Aegon sales and marketing director Jon Bennett and four European fund managers are leaving the firm following a restructure.
Alistair Duffy, Simon Holman, Mark Love and Duncan MacKay are leaving following a review of Aegon’s European equity capabilities.
Aegon says it is preparing to integrate its European businesses in the UK and the Netherlands. Martin Harris has been appointed head of European distribution.
Head of European asset management Andrew Flemming says that these changes provide a clear signal of Aegon’s intention to compete as a successful third-party asset manager on a pan-European scale.
He says: “Harris has a wealth of cross-border experience in the retail and institutional business and I look forward to working with him.”
Chelsea Financial Services managing director Darius McDermott says: “I am surprised to see Jon Bennett leave as he was highly regarded and Aegon has a good fixed-income and improving equity team.
“The group’s track record in Europe was not so good so I guess that this is on the back of a review at a time when fund managers are continuing to trim the fat off their businesses.”