Scottish Equitable plc
TypeSubsidiary
IndustryFinancial services
Founded1831 (1831), as Scottish Equitable
HeadquartersEdinburgh, Scotland, UK
Key people
Mike Holliday-Williams, CEO
ProductsPensions, Investment, Protection
ParentAegon N.V.
Websitewww.aegon.co.uk

Aegon UK (Aegon) is an Edinburgh based financial services provider specialising in pensions, investments and insurance.

Aegon is the brand name for Scottish Equitable plc and it is a subsidiary of Aegon N.V., a multi-national life insurance, pension and asset management company headquartered in The Hague, Netherlands.

History

The Scottish Equitable Life Assurance Society was founded in Edinburgh in 1831 and in 1861 it began paying out its first pension to a customer.

In 1994, the company became Scottish Equitable plc with Aegon N.V. buying a 40% stake in the business. Aegon NV increased that stake to 100% by 1998.[1]

In 2006 Scottish Equitable plc was rebranded as Aegon Scottish Equitable and in 2009 this was shortened to Aegon, although the legal entity is still Scottish Equitable plc.[1]

Aegon acquired Cofunds, a UK based investment and administration service in 2016.[2]

In May 2016 Aegon announced that it would acquire BlackRock's UK defined contribution platform (including Master Trust) and administration business, with the transfer completing in 2018.[3] The Master Trust was authorised by The Pensions Regulator in September 2019.[4]

In March 2020, Mike Holliday-Williams became the new CEO following the retirement of Adrian Grace after 10 years with Aegon.[5]

In April 2021, Aegon acquired Pension Geeks.[6]

Products and customers

Aegon is a financial services provider with products designed for individuals and business customers. Its products are available through financial advisers or in the case of workplace pensions, made available via an employer. It offers a range of pensions, individual savings accounts (ISAs), life insurance and investment products for individual customers. It offers workplace pensions, including a Master Trust option.

In the UK, Aegon has over 3.8 million customers[7] and manages around £214bn of customers’ savings (as at 31 December 2021).[8]

Retiready

Retiready is a free digital retirement, saving and planning service provided by pension, insurance and investment company Aegon UK. It is designed to help people assess what their income needs will be in retirement and choose suitable products to achieve them.[9]

Aegon UK launched Retiready in April 2014.

People and locations

Aegon has over 2,000 UK employees (as at 31 December 2021)[10] working from offices in Edinburgh, London, Lytham St Annes, Peterborough and Witham.[1]

It offers employees career opportunities including graduate apprenticeships while working[11] and a marketing graduate scheme.[12]

In 2021, Aegon was formally recognised as a Living Wage Employer.[13] It is also a signatory of the Women in Finance Charter[14] and the Race at Work Charter.[15]

Company management

Executive committee

Chief Executive Officer, Mike Holliday-Williams, appointed 2019[16]

Chief Financial Officer, Jim Ewing, appointed 2021

Chief Risk Officer, Alison Morris, appointed 2022

Chief Marketing Officer, Andy Manson, appointed 2016

Chief Technology Officer, Nick Rodway, appointed 2019

Chief Internal Auditor, Mohit Dhingra, appointed 2023

Chief HR Officer, Arlene Stokes, appointed 2022

General Counsel and Company Secretary, James Mackenzie, appointed 2012

Chief Service Officer, Dougy Grant, appointed 2020

Chief Distribution Officer, Ronnie Taylor, appointed 2018

Transformation Director, Sarah Barry, appointed 2021

References

  1. 1 2 3 "Our history". www.aegon.co.uk. Retrieved 12 July 2021.
  2. ↑ "Aegon buys Cofunds for £140m", New Model Adviser 11 August 2016
  3. ↑ Aegon completes acquisition of BlackRock’s DC book, Money Marketing 3 July 2018
  4. ↑ Aegon website30 September 2019 Archived 22 September 2020 at the Wayback Machine
  5. ↑ Reid, Scott (10 September 2019). "Change at top for Aegon UK as CEO Adrian Grace announces retirement". The Scotsman. Retrieved 22 June 2023.
  6. ↑ "Aegon acquires consumer engagement specialist". FTAdviser. 28 April 2021. Retrieved 22 June 2023.
  7. ↑ Touray, Momodou Musa (17 May 2022). "Aegon launches protection dashboard for advisers". Money Marketing. Retrieved 22 June 2023.
  8. ↑ "Aegon UK sees assets reach record £200bn". FTAdviser. 12 August 2021. Retrieved 22 June 2023.
  9. ↑ "Aegon launches 'revolutionary' direct retirement platform". FT Adviser. Retrieved 12 February 2015.
  10. ↑ Reid, Scott (12 August 2021). "Edinburgh financial giant Aegon UK hails £200 billion assets milestone". The Scotsman. Retrieved 22 June 2023.
  11. ↑ "Skills Development Scotland, All Systems Go at Aegon!", skillsdevelopmentscotland.co.uk, 26 April 2019
  12. ↑ Aegon website, July 2020 Archived 8 July 2020 at the Wayback Machine
  13. ↑ Wickens, Zoe (26 July 2021). "Aegon UK becomes living wage employer". Employee Benefits. Retrieved 22 June 2023.
  14. ↑ Jones, Rozi. "36 new firms sign Women in Finance Charter". Financial Reporter. Retrieved 22 June 2023.
  15. ↑ Pratt, Louron (3 November 2020). "Aegon signs Race at Work charter to address racial inequality". Employee Benefits. Retrieved 22 June 2023.
  16. ↑ "Our leadership team". Aegon. 30 April 2023. Retrieved 22 June 2023.
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