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

Badgers set high goals for conference meet

first_imgBRYAN FAUST/Herald photoWhile most people are just beginning their golf season, the Wisconsin men’s golf team is winding down its campaign, starting this weekend with the Big Ten Championship.The spring season has been a bit of a rocky endeavor, and the Big Ten Conference continues to be strong, but UW head coach Jim Schuman said at a press conference Monday that he is refusing to allow his team to be satisfied with anything but the best.”I’d be satisfied with a win, quite frankly,” Schuman said. “I mean, I don’t think anything bad happens when you shoot for that. I think you sell yourself a little bit short if you talk about trying to finish in the top half, although there’s nothing wrong with that.”While the second-year head coach is optimistic, even finishing in the top half of the standings will be a challenge. The Badgers have their work cut out for them, and they have been able to see that after taking on conference foes in tournaments over the past few weeks.At last week’s Fossum Invitational, Indiana took home the team title by finishing 6-over for the three-round tournament. Minnesota finished second, while Illinois tied for third and Northwestern tied for fifth.In fact, Michigan State and Ohio State both finished ahead of Wisconsin, which finished in ninth place, edging out just one other Big Ten school, Iowa, which finished tied for 10th, one stroke behind the Badgers.”It’s about winning — you don’t win too often in this sport,” Schuman said. “It’s going to take just a great effort by everybody. We’re not the kind of team where one guy is going to carry us along or two guys are just going to carry us along to a championship or a good finish in the Big Ten. It has to be all five guys.”While it would take an entire team effort for a great finish this weekend at Conway Farms Country Club in Lake Forest, Ill., the road to success begins with Garrett Jones. The junior is coming off the best outing of the spring by a Badger — finishing fourth at the Fossum Invitational — and has been UW’s leader the past two years.”I think this spring has been a tough one for him, honestly. I think probably he hasn’t made a lot of putts, and sometimes you can get down a little bit,” Schuman said. “But it was nice to see him shoot 68 on Sunday. He’s just one of those guys where the bigger the event gets, he’s able to step up and do those things.”Wisconsin also knows what it is going to get from Jeff Kaiser day in and day out. Though a tough first round last weekend put him in a hole early, he battled back and will go into this weekend with some momentum after a final-round 72.”Jeff Kaiser finished with 72 last week and also comes off with some great momentum for us,” Schuman said. “We forget he’s just a sophomore and he’s played every tournament since the day he arrived here.”From there on down, the picture gets a bit blurrier.Freshmen Pat Duffy and Tyler Obermueller have consistently remained in the lineup, and have shown great potential, but little consistency. They will both need to put together solid weekends if the Badgers hope to challenge for the Big Ten title.Nick Engen and Adam Steinhofer have battled for the fifth and final spot, and whoever makes the trip to Conway Farms will be depended upon to have a great weekend.”If we’re going to do something or contend for any kind of Big Ten championship, [the three lower spots in the lineup is] where we’re going to have to get our scores from,” Schuman said. “Going back and assuming that our one and two players play well, and that’s the way it’s been for us.”last_img read more

LA Dodgers experiment with postseason roles in win over San Diego Padres

first_imgSAN DIEGO >> Brett Anderson, a starting pitcher to this point in his existence as a Dodger, threw 2 1/3 innings out of the bullpen Thursday. Another converted starter, Alex Wood, pitched the eighth inning. Julio Urias, who moved to the bullpen when the month began, threw three innings as a starter.In the most topsy-turvy act of all, the Dodgers knocked around a left-handed pitcher en route to a 9-4 victory over the San Diego Padres. That gave them a winning record — 22-21 — in games started by left-handed pitchers this season.In the words of Dick Enberg, who broadcasts his final Padres game Sunday: Oh my.If the Dodgers intend to fully exorcise their left-handed demons before the regular season ends, an ornery 6-foot-5 inch obstacle still stands in their way: Madison Bumgarner, who starts the opener of a three-game series against the Giants on Friday. That, and sorting out any postseason roster roles still to be determined, will be the Dodgers’ final order of business as the regular season ends. Meanwhile, the possibility of beginning the National League Division Series at home slipped further from their grasp Friday. The Washington Nationals beat the Arizona Diamondbacks earlier in the day. They lead the Dodgers by two games in the race to host the NLDS with three games left in the season.The Dodgers convincingly avoided a three-game sweep at the hands of the Padres, the fourth-place team in the National League West. Justin Turner had three of the Dodgers’ 15 hits, while Joc Pederson (2 for 5, two doubles), Carlos Ruiz (2 for 4) and Rob Segedin (2 for 3) added polish to their statistics.Whether he’s at home or on the road, pitching as a starter or reliever, Urias will be there when the playoffs begin.The 20-year-old left-hander allowed a double to Manuel Margot to begin the game, then didn’t allow another hit for three innings. Urias walked two batters and struck out five in what was likely the final appearance of his rookie season. He was removed after throwing 58 pitches. Newsroom GuidelinesNews TipsContact UsReport an Errorcenter_img If his next opponent is the Nationals, Urias will finish his first major league season with a 5-2 record and a 3.39 earned-run average in 18 games (15 starts) with the Dodgers.Anderson (1-2) was credited with the victory, his first since Oct. 1, 2015. He didn’t allow a run in his first relief appearance since an October 2013 division series game for the Oakland A’s.With the Dodgers trailing 2-1 in the fourth inning, Charlie Culberson jump-started a four-run rally with a double against Padres starter Christian Friedrich (5-12). Turner tied the game 2-2 with an RBI double, then scored on a wild pitch by left-handed reliever Jose Torres.Andre Ethier appeared as a pinch hitter for the ninth time this month. His RBI single in the eighth inning gave him three hits, a walk and two RBIs coming off the bench.Andrew Toles, who will be on the NLDS roster, singled in his only plate appearance off the bench before the announced crowd of 35,804 at Petco Park.The start of the game was delayed while the Padres honored Enberg.last_img read more