Aegon announces the appointment of Adrian Grace, Chief Executive Officer of Aegon’s operations in the United Kingdom, to its Management Board. Mr. Grace’s appointment is subject to the consent of the Dutch Central Bank.
Aegon's Management Board was formed in 2007 to oversee the company's businesses internationally and the progress of its strategic growth objectives. Members of the Management Board are drawn from Aegon's country and operating units and have both regional and global responsibilities, ensuring that Aegon is managed as an integrated international business. Mr. Grace, who was appointed CEO of Aegon UK in March 2011, will continue his responsibilities for the UK and Variable Annuities Europe in conjunction with his new Management Board role.
"Adrian has played the leading role in planning and carrying out the transformation program currently underway within our UK business," said Aegon CEO Alex Wynaendts. "His appointment to the Management Board is a reflection of the continued importance our business in the UK represents within our strategic priorities and we look forward to benefitting from his extensive experience and insights as we address the broader opportunities and challenges for Aegon's businesses."
The Management Board currently consists of the following members:
- Alex Wynaendts, CEO Aegon N.V.
- Jan Nooitgedagt, CFO Aegon N.V.
- Mark Mullin, CEO Aegon Americas
- Marco Keim, CEO Aegon The Netherlands
- Gábor Kepecs, CEO Aegon Central & Eastern Europe
Adrian Grace is currently CEO of Aegon's UK business, and responsible for leading operations across all of Aegon's UK life and pensions business, and distribution businesses and Aegon's variable annuity business in Europe. As CEO he has been responsible for leading the major business transformation plan now underway as Aegon UK repositions its UK business for future success. A centerpiece of the program was achieving a reduction in operating costs by 25% by end 2011 – which was delivered -- and refocusing the business on the two growth markets of "at retirement" solutions and workplace savings, where Aegon already has strong positions.
Adrian was previously Chief Operating Officer, a role he held from February 2010, and in this role was responsible for defining and initiating the business transformation program. Adrian joined Aegon in February 2009 as Director of Group Development.
Adrian built his career at GE Capital, where over ten years he held a variety of business development roles including periods based in the US and Far East. He also held managing director roles at Sage Group, HBoS and Barclays Insurance. These roles have given Adrian broad perspective and insight into diverse businesses. They have also given him experience of culture driven by excellence, execution against strategy and of successfully turning around an organization.
Adrian is a member of the Board of Scottish Financial Enterprise.