Aegon hires ex-LV CEO

Aegon hires ex-LV CEO

Mike Rogers, the former chief executive of Liverpool Victoria, has been appointed as non-executive chairman of Aegon UK.

Mr Rogers was chief executive of Liverpool Victoria between 2006 and 2016, and before then rose throught the ranks at Barclays from graduate trainee to managing director of UK Retail Banking. He holds non-executive director roles at Royal Bank of Scotland and Experian.

Mr Rogers said he is "looking forward to working with the management at a time when demand for financial advice, the growth of the defined contribution savings market and the increasing requirement for scale in the platform market make this an exciting sector of financial services”.

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Last year was a busy year for the company with a number of strategic acquisitions.

In August 2016 Legal & General agreed to sell Cofunds to Aegon in a £140m deal, ending months of speculation about the future of the platform.

In May that year Aegon announced it had acquired Blackrock's defined contribution pension business.

Mr Rogers said the business of integrating Cofunds and the BlackRock pension businesses "is progressing well".

Adrian Grace, chief executive at Aegon praised Mr Rogers' "very strong record and great experience in UK financial services".

"We are delighted that he has accepted the role and his experience will help us to deliver on our strategy of supporting the financial advisers and workplace customers with the best tools and service in the market.”

According to LV chairman, Mark Austin, when he hired Mr Rogers as chief executive officer in 2006 the “tired brand” was in dire need of modernising.

“It had diversified too far into areas like banking, where it didn’t have a significant market position, a general insurance business leaking money and customers, and a life business relying on the idea that mutuality would provide the reason for people to buy,” Mr Austin told Financial Adviser.

In the years under Mr Rogers’ leadership and the rebranded LV moved from a £20m loss to a £195m profit in 2015, and from two million to almost six million customers.