Aegon Asset Management announced that Sarah Russell, member of Aegon's management board and global CEO of Aegon AM, will step down. She will be succeeded by Bas NieuweWeme. The management changes will be effective as of 24 June 2019.
Alex Wynaendts, CEO of Aegon said: "Russell has been creating and building a successful global asset management business over the past nine years, which is now ready for the next stage of development. NieuweWeme' appointment signals Aegon's continuing commitment to build a growing and sustainably profitable business. He will bring a fresh perspective gained from having worked with leading global asset management firms, in the world's largest markets".
NieuweWeme joins Aegon from PGIM, the asset management business of Prudential Financial, where he was managing director and global head of the Institutional Relationship Group.
Russell will support NieuweWeme to ensure a smooth and robust transition. His appointment has been approved by the relevant regulatory authorities.