Aegon to be unified under global umbrella

Aegon is to bring its asset management businesses together under one global umbrella in a new growth strategy announced last week.

The group's three main operations in the USA, UK and Netherland are run independently of each other but will become a single entity in January 2009.

This will be separated into two divisions for Europe and the USA.

Aegon's €120bn European business will come under current UK CEO Andrew Fleming, whose official title will be head of European asset management.

His main focus will be to develop new third-party business in Europe.

Eric Goodman is currently CIO in the States and will head the USA business when the changes come into effect in January 2009.

Goodman and Fleming will report to head of Aegon Asset Management Erik van Houwelingen, currently a senior executive in the group's Netherlands business.

The group also confirmed similar plans for its life and annuities operations.