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Sarah Russell appointed CEO of Aegon’s global asset management business

The Hague, July 13, 2010

Aegon has appointed Sarah Russell as the new Chief Executive Officer of Aegon Asset Management, effective August 1.

Ms. Russell succeeds Erik van Houwelingen, who is leaving Aegon to pursue career opportunities elsewhere. Ms. Russell’s appointment marks a new stage in the development of Aegon’s global asset management organization, which was established in October last year.

Ms. Russell has spent nearly 20 years in international finance and investment management both in Europe and her native Australia. Ms. Russell has a master’s in applied finance from Macquarie University in Sydney and was, until recently, the Chief Executive Officer of ABN AMRO Asset Management.

“Sarah Russell brings significant experience and expertise to this key leadership position within our global asset management organization," said Aegon CEO Alex Wynaendts. "Her appointment comes at an important time following the successful start-up phase of this new business over the past two years. Sarah will be charged with leading Aegon Asset Management into a new period of development and growth, in line with our ambitions.

"‪We are very grateful to Erik van Houwelingen for his considerable contributions in bringing together our asset management capabilities of the Americas, Europe and Asia into one global company. Today, we are well positioned to achieve the objectives we established when launching the organization: to improve service and extend our broader expertise for the benefit of our customers, to make better use of our worldwide resources and to build a leading global asset management business."

Aegon Asset Management was officially launched last year as part of a wider objective to manage Aegon more as one international company. The organization groups together Aegon’s asset management businesses in North America, Europe and Asia, employing 1,300 people and managing more than EUR 200 billion in assets.

Ms. Russell’s appointment is subject to regulatory approval.