AEGON uplifts UK CEO

by Gill Montia

Story link: AEGON uplifts UK CEO

AEGON has appointed its UK chief executive officer, Adrian Grace, to its management board.

Most recently, Mr Grace has been responsible for leading the transformation taking place at AEGON UK, as it repositions its business.

A centrepiece of the restructure was achieving a reduction in operating costs of 25% by end 2011, and refocusing the business on the “at retirement” and “workplace savings” markets, where AEGON says it now has “strong positions”.

Commenting on Mr Grace’s appointment, AEGON chief executive officer, Alex Wynaendts, says it is “a reflection of the continued importance our business in the UK represents within our strategic priorities”.

He adds: “We look forward to benefiting from his extensive experience and insights as we address the broader opportunities and challenges for AEGON’s businesses.”

AEGON’s management board was formed in 2007 to oversee the company’s businesses internationally and Mr Grace’s appointment is subject to the consent of the Dutch Central Bank.