View more on these topics

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.

Recommended

RDR support slumps to 47% in two years

Support for the retail distribution review has fallen by nearly a quarter in two years, according to a Financial Services Practitioner Panel industry survey. The survey, which compiles responses from 4,256 regu- lated firms, shows only 47 per cent welcome the initiative, down from 60 per cent two years ago. Fourty-four per cent of retail […]

1

Audit tools help advisers gauge RDR compliance

Consultancy firm Engage Partnership is offering a suite of audit tools for advisers to measure how RDR-compliant their businesses are. The engage transparency index modelling tool benchmarks firms against best practice processes. It measures a firm’s transparency on aspects such as charges, customer service and product suitability. The audit process also looks at how client […]

Fall in overseas-domiciled fund sales

Retail sales in overseas-domiciled funds fell by over a third last year, according to statistics from the Investment Management Association. Retail sales fell to £999m in 2010, down by over 36 per cent from the £1.5bn taken in 2009. This compares with a 7.8 per cent fall in onshore sales from £25.9bn in 2009 to […]

Derek Stuart: where to find value in the UK?

Derek discusses a number of Œself-help stories as examples of where he is finding good opportunities in the UK With the FTSE trading at historically high levels, many investors have questioned whether UK equities continue to offer value. But, as Derek points out, the headline figures mask many opportunities at a sector level. He has […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment