UK- Aegon has let go four members of its European equity team as part of a restructure which will also see the departure of the group's sales and marketing director Jon Bennett.
The move follows a review by European equities head Stuart Fraser, in preparation for the integration of Aegon's businesses in the Netherlands and UK.
Alistair Duffy, former manager of the Aegon European Equity fund, will depart the group - along with Simon Holman, Mark Love and Duncan MacKay.
Martin Harris, the former MD of UK institutional business at Fidelity and First State, will assume Bennett's role. He joins from hedge fund specialist CQS Management, where he was global head of distribution and client servicing.
Aegon said the changes provide a clear signal of its intent to compete as a successful third party asset manager on a pan European scale.
"These changes are consistent with our stated aim of strengthening our existing propositions where we believe we can add value for our existing customers and future clients," it said.
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