Aegon has announced several changes to the platform used by clients of the Cofunds Institutional service.
The platform will now have the capacity to hold funds not denominated in sterling, it will offer segregated accounts and Property Authorised Investment funds (PIAF), and tax exempt funds.
As part of the change, the company have announced the appointment of Katrina Sartorius as director of institutional business.
This is a newly created role.
Ms Sartorius will be joining from Euroclear, an international central securities depositary, where she is currently the global head of FundsPlace.
She will report to Andy Coleman, managing director retail and institutional for Aegon/Cofunds, and will be responsible for the institutional business and its continued growth.
FNZ will be handling the technological changes as part of this proposition, with a significant upgrade planned for the end of the year.
Mark Till, chief marketing and distribution officer at Aegon, said: “Katrina’s appointment is a great endorsement of our commitment and ambition for the future of our service.
"The key focus for the institutional business is to provide the best possible service by widening the current proposition and investing in our technology and with FNZ’s ability to provide rapid development in an increasingly changing regulatory landscape, we feel we’re well positioned.
“As with our retail platform integration, we’re fully involving clients and the customers they serve by putting them at the heart of the process so that they get the changes they want to see, such as the ability to trade multi-currency funds and a significant widening of fund choice."
He said Aegon is the market leader in the institutional market in the UK and can use this scale for the benefit of clients.
david.thorpe@ft.com
