The former chief executive of Cofunds, who joined Aegon in 2016 when the latter bought his firm, has exited to become chief executive of ST James's Place DFM Rowan Dartington.
David Hobbs spent five years as chief executive of Cofunds, a title he held until December 2018.
Aegon bought Cofunds in 2016, and announced in October 2017 that the Cofunds brand would be discontinued.
Since December 2018, Mr Hobbs has had the title managing director of investments at Aegon.
Prior to joining Cofunds, he spent three years as chief executive of Suffolk Life. He is due to leave Aegon later this year.
In a statement released this morning, Aegon confirmed Mr Hobbs' departure.
A company representative said: "David has received an exciting opportunity to take on a chief executive position at a leading wealth management firm.
"We would like to thank him for his work over the years and wish him all the best for the future. We will announce a successor in due course and hope to have completed the recruitment process prior to David’s departure."
Mr Hobbs will take over from Graham Coxall as chief executive of wealth manager Rowan Dartington.
Mr Coxall will move from being executive chairman, a position he has held since 2011, to being non-executive chairman.
Rowan Dartington is owned by FTSE 100 advice firm St James's Place.
Mr Coxall said: "David is extremely well regarded and it is a real pleasure to welcome him to lead the great Rowan Dartington family under the ownership of our fantastic parent St. James’s Place. David is extremely well suited and unquestionably the best person for the job."
At the same time as announcing the departure of Mr Hobbs, Aegon confirmed that Martin Coyle, one of its distribution directors, is also leaving the company.
A company representative said: "Martin left the business recently and we wish him all the best for the future. He left following a review of the operating structure of our distribution function last year.
"The changes were designed to ensure our retail business is well organised to deliver support to advisers and promote Aegon’s products and services."
david.thorpe@ft.com
