Another blow for Aegon as senior director leaves
Paul McMahon, UK group marketing director of Aegon has resigned from the organisation after less than a year at the company.
In a statement from Aegon, Mr McMahon, who joined the Dutch-owned firm in August 2011, said he would be join FNZ as chief executive of its UK business.
Aegon has already seen the departure of its chief executive Otto Thorensen, Peter Williams, head of industry development, and Rachel Vahey, head of pensions development.
In 2010, Francis McGee, head of corporate affairs, announced that he would leave at the end of January 2011, while several key members of the Aegon communications team have announced their resignations or left the company.
At Aegon, Mr McMahon was responsible for developing a marketing leadership team, and a marketing function that is ready to respond to the opportunities that pensions reform and RDR will present.
He was instrumental in the delivery of Aegon Retirement Choices, the platform proposition for the at-retirement market, and has also been heavily involved in the development of Aegon’s soon-to-launch corporate platform proposition.
Adrian Grace, chief executive of Aegon, said: “Although Mr McMahon has only been with us for a relatively short period of time, he leaves the marketing function in an excellent position, with talented individuals who are able to lead the business through the challenges ahead.”
The statement said that, due to the competitive nature of his appointment at FNZ, he will leave with immediate effect and will be taking up his position with FNZ toward the end of this year.
Mr Grace said Aegon would seek to appoint a new marketing director in due course.