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Paul Evans becomes Axa UK chief executive

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Former chief executive of Axa Life Paul Evans is to succeed Nicolas Moreau as chief executive of Axa UK.

Evans had briefly become deputy chief executive of Axa UK following the sale of the provider’s life and pensions, corporate pensions and IFA protection businesses to Resolution for £2.75bn.

Moreau becomes chief executive of Axa France as part of the reshuffle

Axa chairman and chief executive Henri de Castries says: “Evans has been instrumental in the repositioning of our UK life operations and I am sure he will succeed in his new role.”

Axa UK reported a 6 per cent increase in sales on an APE basis to £469m for the first half of 2010. Life and wealth underlying earnings increased 79 per cent from £58m to £104m.

Bluefin Advisory Services increased revenues by 8 per cent, however revenues for Bluefin Wealth Management were down 19 per cent to £31m. Axa says BWM has closed 20 offices and 200 employees have left the business.

Axa’s Elevate wrap has 675 IFA firms signed up with around £1bn of assets on the platform, with around £300m coming through bancassurance channels.

Axa’s multimanager business Architas nearly doubled funds under management to £3.5bn.

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