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McMahon quits Friends for Aegon

Friends Provident managing director of UK corporate Paul McMahon has quit to join Aegon as group marketing director.

Aegon life and pensions marketing director Andy Marchant has left as a result of McMahon’s appointment.

McMahon says Aegon is pursuing an “exciting agenda”. He says: “Its refocused strategy presents significant opportunities for the business.”

Aegon is cutting costs by 25 per cent in its UK business and focusing on what it considers the two growth markets – at-retirement and workplace savings.

An Aegon spokeswoman says a start date for McMahon, who is on gardening leave at Friends, has not been confirmed.

Friends has appointed distribution and marketing director Colin Williams to take over from McMahon.


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