Paul McMahon is moving to Aegon UK to take up the role of group marketing director, leaving Friends Provident just six months after joining the provider as managing director, UK corporate.
McMahon will spearhead the delivery of Aegon’s new marketing strategy as it prepares for the market changes brought about by the Retail Distribution Review and repositions its UK business to focus on its two chosen markets of workplace savings and at retirement solutions.
McMahon was previously managing director, corporate benefits at Axa, where he was responsible for Axa’s corporate pensions business.
Andy Marchant, Aegon’s life and pensions marketing director, will leave Aegon as a result of McMahon’s appointment.
Friends Provident has appointed Colin Williams as director of corporate, reporting directly to Trevor Matthews, chief executive officer.
Williams will be responsible for the development and implementation of the workplace savings strategy in the corporate benefits market and will manage the ongoing integration of the Friends Provident and Axa corporate propositions.
He was previously distribution and marketing director at Friends Provident and has over 15 years experience in the corporate benefits industry.
He will continue to oversee the creation and management of the sales and marketing strategy for Friends Provident.
Following the recent acquisition of Bupa Health Assurance the Friends Provident group risk team, led by Stephanie Baillie, will report to Steve Payne, chief executive of Bupa Health Assurance.
Aegon UK chief executive Otto Thoresen says: “Paul has specific skills in the wrap and platform markets which will dovetail well with Aegon’s proposition development. This is an exciting appointment, which represents an important milestone as we progress with our new strategy. I’m delighted that Paul is joining the team.
“Aegon’s ongoing commitment to the UK market will be underpinned by a commitment to developing exciting talent, bringing in specialist skills where required, and targeting growth opportunities. RDR will bring to significant change to our market and the changes we are making to our business now will ensure we are one of the winners in the future.”
McMahon says: “Aegon has always enjoyed an excellent reputation in the adviser market for its leading market position and expertise in pensions. Their refocused strategy present significant opportunities for the business.
Matthews says: “Colin is a strong, senior player within our corporate business and I am sure he will drive forward our strategy in this market with energy and enthusiasm. He is well known among corporate IFAs and employee benefit consultants and has a deep understanding of the corporate benefits market. Colin is a great asset to our business and I am pleased we have someone of his calibre in this important role. We would like to thank Paul McMahon for all his hard work and wish him well for the future.”
Williams says: “I’m excited about the opportunities ahead of us as we progress our integration work, develop our strategy and build a market leading position in workplace savings. We have a very strong future in this market.”