Paul McMahon is leaving Aegon after less than 10 months with the insurer to join platform technology provider FNZ as the CEO of its UK business.
Prior to his stint at Aegon, where he held the role of group marketing director, McMahon was responsible for the development and launch of the Axa Elevate platform, which uses FNZ.
McMahon also held the role of managing director of UK corporate at Friends Provident following its merger with the life businesses of Axa in 2011.
FNZ was founded in New Zealand in 2003, expanded to the UK in 2005 and then the Australian market in 2010 where its customers include National Australia Bank, AMP, UBS and Australian Super. FNZ employs around 700 staff in the UK, Czech Republic, Australia and New Zealand. Customers include Standard Life, Zurich, Friends Life, JPMorgan Asset Management, HSBC and Close Brothers Asset Management.
Adrian Durham, Group CEO of FNZ says: “Paul will be responsible for all functions in the UK. This provides a foundation for FNZ to continue to expand internationally, supporting a global transition to increased transparency and efficiency in the retail savings and retirement sector.”
McMahon says: “I have been actively involved with FNZ as a customer since very early in its evolution. I admire the impact FNZ has had in transforming the UK savings and retirement market, both ensuring that all of its customers are successful in the platform space, and rapidly building a highly successful scale business from a standing start a few years ago. The combination of the retail distribution review and auto‐enrolment is bringing a seismic shift to the provision of retirement and savings services in the UK, which FNZ’s customers are very well placed to benefit from. I am very excited to be joining FNZ at this time and helping it take its business to the next level.”