Aegon to merge asset management subsidiaries under a single board [updated]

first_imgIn the reorganisation plan, Van Wijk is to become head of responsible business and public affairs. Van der Maarel, who will remain a member of the Global Management Board, is Aegon’s envisaged chief commercial officer for Europe.Aegon said forced redundancies would be possible. However, the company emphasised that the investment teams would not be affected, adding that this would also largely apply to the commercial client teams.A spokesman for the group later said that TKP’s fiduciary services would be ringfenced from the rest of the European organisation through the establishment of separate reporting lines in order to “safeguard the independent nature of these services”.According to the reorganisation plan, all four current offices are to remain operational and the brands Aegon AM, TKPI and Kames Capital would also remain. The €64bn Aegon AM Netherlands is based in The Hague, while the €28bn TKPI has an office in Groningen. Kames Capital operates from London and Edinburgh.The remainder of Aegon AM’s assets are largely managed from the US.Worldwide, Aegon has approximately 1,300 staff, of whom about 300 are based in the Netherlands. At year-end, TKPI employed almost 100 staff.Speaking to IPE’s Dutch sister publication Pensioen Pro, an Aegon spokesman emphasised that Aegon’s central works council (OR) and the supervisors still had to approve the plan.The OR has a six-week period to respond, after which Aegon AM will take a decision about the follow-up steps on integration.Kames and Aegon AM Netherlands have been formalising some aspects of their existing collaborations in recent weeks. Earlier this month Kames named Jacob Vijverberg and Robert-Jan van der Mark – both Aegon AM managers – as co-managers on Kames-branded funds.Kames CIO Stephen Jones said at the time that the appointments marked “a new point for greater co-operation and collaboration between the two teams and will allow us to optimise and strengthen our capabilities in this very competitive sector of the market”.This article has been updated to include a statement regarding TKP’s fiduciary services. Aegon Asset Management has confirmed its intention to merge Aegon AM Netherlands, TKP Investments and its €50bn UK-based subsidiary Kames Capital under a single board.The €317bn asset manager said it wanted to integrate its operational activities in Europe in order to improve decision-making and to achieve benefits of scale and costs savings.Under the current plan, the boards of the three subsidiaries are to be merged into a single European board – chaired by Kames’ chief executive Martin Davis – as part of Aegon AM’s Global Management Board.The current CEO positions at Aegon AM Netherlands (Erik van der Maarel) and TKPI (Roelie van Wijk) are to disappear in the new setup.last_img read more

“Postponed Tokyo Olympics a blessing”- Ben Nunoo Mensah

first_imgThe President of the Ghana Olympics Committee (GOC), Ben Nunoo Mensah has stated that the Coronavirus pandemic may have a positive effect on Ghanaian athletes after the Tokyo 2020 Olympic Games were postponed.The International Olympic Committee (IOC) postponed the Olympic Games due to the outbreak of COVID-19 globally as countries battle with the effects of the virus.Ghana will have athletes representing in the postponed 2020 Games to be hosted by Tokyo in Japan.According to the President of the GOC, the forwarding of the Olympic Games could be blessing in disguise as athletes will have enough time to prepare for the Tokyo 2020 Games.He, however, cautioned that the current situation could have a negative impact as late preparations for the athletes will not help the course when Ghana takes centre stage in the Olympic Games in Tokyo.He was speaking on a Zoom discussion on the Impact of Covid-19 on Ghana Sports on Happy FM and GTV Sports Plus on Wednesday.“Postponement of the Olympics games is a form of blessings for us because we will have ample time to prepare for it”.“If care is not taken, this blessing can be a curse because we are used to late preparations”“Athletes can re-adjust their training programmes”.Ghana has four athletes qualifying for the Tokyo Games which has been rescheduled for 2021 due to the COVID-19 pandemic: Nadia Eke – Triple Jump, Joseph Paul Amoah – Sprinter, Samuel Takyie – Boxer, Sulemana Tetteh – Boxer.The new dates for the Olympic Games are from Friday, 23 July 2021 to Sunday, 8 August 2021.last_img read more

NU stops Adamson’s run, Ateneo halts skid at UE’s expense

first_imgGinebra beats Meralco again to capture PBA Governors’ Cup title MANILA, Philippines—National University showed its championship pedigree in clobbering Adamson University in straight sets, 25-22, 25-18, 25-16, in the UAAP Season 81 men’s volleyball tournament Sunday at Smart Araneta Coliseum.The defending champions have now racked up three straight wins after opening their season with a four-set loss to Far Eastern University.ADVERTISEMENT Bryan Bagunas, Season 80’s Finals MVP, led the Bulldogs with 24 points while James Natividad and Angelo Almendras combined for 11 points.The Soaring Falcons’ loss saw them drop their first game of the season to tie NU in second place.FEATURED STORIESSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissSPORTSCoronation night?SPORTSThirdy Ravena gets‍‍‍ offers from Asia, Australian ball clubsEarlier, Ateneo ended its two-game skid with a three-set sweep of University of the East, 25-22, 25-19, 25-11.Antony Koyfman put up 13 points for the Blue Eagles who improved to a 2-2 record tying University of Santo Tomas at the fourth spot of the standings. Pistons punish Kevin Love-less Cavaliers Don’t miss out on the latest news and information. Japeth Aguilar wins 1st PBA Finals MVP award for Ginebra Will you be the first P16 Billion Powerball jackpot winner from the Philippines? MOST READ Ateneo punished UE to the tune of 40 spike points as compared to UE’s 25.Sports Related Videospowered by AdSparcRead Next Rogue cops marked as Gamboa’s targets in his appointment as PNP chiefcenter_img Nadine Lustre’s phone stolen in Brazil Eugenie Bouchard’s bid for Australian Open spot ends in qualifying LATEST STORIES Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college Ginebra beats Meralco again to capture PBA Governors’ Cup title SEA Games 2019: Charly Suarez stops Burmese foe, advances to boxing semi PLAY LIST 03:22SEA Games 2019: Charly Suarez stops Burmese foe, advances to boxing semi03:30PH’s Rogen Ladon boxing flyweight final (HIGHLIGHTS)03:34PH’s Carlo Paalam boxing light flyweight final (HIGHLIGHTS)02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Tom Brady most dominant player in AFC championship history View commentslast_img read more