Aegon has announced the appointment of Andy Coleman in the new role of managing director of retail.
He will be responsible for leading the distribution functions for both Cofunds and the Investor Portfolio Service, following the purchase of Cofunds last year.
Mr Coleman joined Cofunds in 2012 from Axa Wealth. He was most recently commercial director and will report to Aegon’s chief distribution and marketing officer, Mark Till.
He will be responsible for the management of a combined sales team of 167 people.
According to Aegon, this will be one of the largest sales forces in the industry with 99 "in the field" and 68 on the telephone.
Mr Till said: “As a business we’re acutely aware that the way we’re structured must be in tune with the needs of the advisers we’re serving.
"Andy’s appointment brings a great deal of experience and, more importantly, continuity. We have in place an excellent team with enormous experience completely focused on helping intermediaries grow their business and their profitability.”
At the time of the deal in August Cofunds had £77bn on its platform while Aegon had £9bn, making the combined platform one of the biggest in the UK.
Mr Coleman said: “As we head into the beginning of 2017 the completion of the acquisition marks a new era for both Cofunds and Aegon’s platform businesses.
"Although we’ll face challenges, our combined platform strength and new technology will offer our clients new capabilities underpinned by an efficient first class service. With the largest dedicated distribution reach the adviser community has seen, we’re looking forward to offering our users a fully-fledged platform.”
ruth.gillbe@ft.com
