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Ageas retail chief exec steps down

Mark Cliff, chief executive of Ageas Retail has resigned and will join Brightside as executive chairman during 2015, subject to regulatory approval.

The search for a successor has already begun and Mr Cliff will remain with Ageas while a replacement is appointed.

He joined the group in 2008, helping to develop Ageas Insurance and Ageas Retail, as well as being a member of the UK executive team.

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Brightside is a trading partner of Ageas and the move is designed to further strengthen ties between the companies.

Andy Watson, chief executive of Ageas UK, said he was sorry to see Mr Cliff leave, but that the new opportunity will further develop our relationship with Brightside.

“Mark has successfully achieved the collective support and commitment from Ageas, including the UK board, for a clear, targeted strategy and significant investment programme to ensure further profitable growth within our retail business.”

peter.walker@ft.com