Bosses said it would shift from a traditional life company to an “intermediated, digital platform business” following the two major acquisitions in the past two years.
Today, Aegon announced changes to its executive team.
Adrian Grace becomes chief executive of Cofunds, in addition to Scottish Equitable Plc and Aegon UK.
Mark Till, currently chief distribution and marketing officer, will take up a newly created role as managing director for Aegon Digital Solutions.
David Hobbs, currently chief executive of Cofunds, will take on a new role as managing director for investments and chief executive of Aegon Investments, the new multi-manager investment company Aegon is launching later this year.
He will continue to lead the Cofunds business through the integration period.
Richard Denning, will become chief transformation and digital officer with responsibility for Aegon’s digital operations and IT.
Ronnie Taylor joins from Scottish Widows where he was responsible for distribution of workplace, protection and direct propositions. He has also held senior sales roles at Standard Life. He will take on responsibilities for leading the Aegon sales teams in the role of chief distribution officer.
Chief executive Adrian Grace said: “In 2016 we split our business into two, creating a new digital solutions business with some of the latest technologies and digital applications, including our investment platform. We now have the infrastructure, scale and momentum, in place, making it an appropriate time to appoint a managing director for this business.
“Aegon has transformed itself through two strategic acquisitions and it’s important that our management structures reflect the focus of the business, aligning our structure to help grow the business while keeping the interests of our customers safe.
“Following the huge strides we’ve made, I’m delighted to appoint Mark to lead our expanded digital business, reflecting our compelling plans to build a service around the needs of intermediaries and their clients.
“David Hobbs has done an outstanding job at leading Cofunds and integrating the business into the Aegon family. There’s a great deal of investment expertise within Cofunds and as we move from a life and pensions company to a broader investment platform business, David will use his undoubted skill to grow our investment business, including the new Aegon multi-asset fund range being launched later this year.
“Richard Denning’s wider remit reflects both his skill in managing our operational areas and the continual strides we are taking to transform our digital proposition to better meet the needs of the intermediaries we serve.”
Today’s changes will take effect in the coming months.