Aegon to scrap Kames brand as it creates £303bn global giant

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Aegon to scrap Kames brand as it creates £303bn global giant

Aegon Asset Management is to do away with the Kames Capital brand in 2020 as it embarks on an initiative to integrate its European and US-based businesses into one £303bn AUM giant.

The move follows the merger of its senior European management team in 2018, which has responsibility for Aegon Asset Management and TKP Investments in the Netherlands, and Kames Capital in the UK.

The TKP brand will also be phased out, though its fiduciary and multi-manager services will be rebranded as AAM Fiduciary Services & Investment Solutions and AAM Multi-Management, respectively.

The new integrated structure will see the firm apply a simplified operating model, creating a global operating management board led by Aegon AM chief executive Bas NieuweWeme.

The distribution and operations teams will also be run on a global basis, while the investment team will be split across four investment platforms - fixed income, real assets, equities and multi-asset & solutions. The investment process will see no changes.

Each investment platform will be led globally by a CIO, who will also have a seat on the management board, while the existing investment teams will remain in place.

The group's responsible investing team will be transitioned from the CEO to the CIO domain, in an effort to bring it closer to the investment process and ESG product development.

CEO NieuweWeme commented: "By organising our investment teams globally across the four investment platforms we can harness our experience, knowledge and resources worldwide. This will enhance our performance potential and help generate better investment outcomes for our clients, while providing them access to our best in breed products and solutions.

"The move will support the great work being done by our investment and distribution teams by providing them with deeper resources, while not changing our investment processes or local focus.

"The changes allow us to be more responsive to the changing markets and the evolving needs of our investors, while avoiding duplication of effort. The efficiencies we realise can be invested in our client proposition and service, with competitive pricing and investment in our systems and processes so that they remain best-in-class for our clients."