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Francis McGee to leave Aegon after restructure

Aegon head of corporate affairs Francis McGee is leaving the company as part of the provider’s restructure.

The provider is cutting costs by 25 per cent and refocusing on the at-retirement and workplace savings markets with a number of senior management roles to be cut.

It will close its third party pension administration business and six of its 12 regional sales centres but will retain its life insurance and protection business.

McGee, who will leave early next year, joined Aegon in July 2005 and before that spent four years working as head of regulation and strategy at the ABI. Prior to that he spent 11 years working in the Treasury and on financial regulation at the Personal Investment Authority and the Bank of England.

McGee says: “I have had five and a half fantastic years working with Otto and a brilliant team of colleagues.

“I have decided not to decide what to do next. I am not going anywhere at once and I want to focus on the remaining things I need to do here. Then we will see.”

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