Aviva

Aviva has overhauled its senior management team and announced a revised strategic business plan after major shareholders raised serious concerns.

The reputation of the UK banking sector hit a new low last week after the FSA hit Barclays with its largest ever fine of £59.5m for breaching LIBOR regulations.

Aviva has fired dozens of senior managers and may look to offload a fifth of its business units after carrying out a review of the company, according to reports.

If it feels like we have been in this kind of market environment before, that is because we have been

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Business secretary Vince Cable (pictured) is set to announce plans today which will force companies to take binding votes on executive pay every three years.

SPECIAL REPORT

Andrew Moss, the chief executive officer of insurance giant Aviva, is leaving the group.

Insurance firm Aviva has suffered an embarassing blow after more than half its shareholders voted against its proposals on executive pay at its annual general meeting today.

Aviva Investors has seen yet another high profile departure as upheaval continues within the insurer's asset management arm.