UK/NETHERLANDS - Aegon is to rebrand its UK asset management arm as Kames Capital.
The rebrand, which the fund manager is expected to announce later today, is thought to be a bid to differentiate the UK business from its Dutch parent company and other operations in the UK.
During the financial crisis of 2008 the Dutch group sought a €4bn bailout from the state as it posted losses in company results and cancelled its dividends.
Only in June this year did Aegon makes its final repayment of the bailout money to the government.
In June of 2010 staff cuts were announced in the UK business but its life and pensions arm was thought to have taken the brunt of the cost cutting measures.
In the US and Netherlands, Aegon focuses on life and pensions. In the UK business, which is headed up by Andrew Fleming, Aegon's asset management arm runs around €55bn. In total, AEGON AM manages €200bn in fixed income, equity and property funds.
AEGON Asset Management chief executive Sarah Russell said: "The decision to rebrand our UK business reflects our desire to ensure alignment with the specific needs of all our customers. The AEGON Asset Management brand is a highly regarded symbol of the investment expertise we have developed to support our insurance businesses.
"In distinguishing our UK investment management activities under the Kames Capital brand, we will highlight our capabilities for investors in the external market."
The rebranding of the business will take effect from September 1, 2011.
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