Aegon Asset Management intends to integrate its European and US businesses to enhance client outcomes and compete with global asset managers.
In 2018, Aegon merged its European management team with Aegon Asset Management (Netherlands), Kames Capital (UK), and TKP Investments (Netherlands).
The globally integrated structure will simplify its operating model that features regional executive committees.
The new model will create a global operating management board headed by Aegon Asset Management global CEO Bas NieuweWeme.
Aegon will create a global investment business, with assets under management of $386bn, maximising the potential of its teams from various regions.
The company will also manage distribution and operations teams on a coordinated, global basis while maintaining local client focus.
Investment teams will be organised across Fixed Income, Real Assets, Equities and Multi-Asset & Solutions platforms.
Aegon says no change to investment process
The company said that there will not be any change to the investment process or to the people managing client portfolios.
A chief investment officer will lead each investment platform globally and will be a member of the management board.
The company will transfer the Responsible Investing team from the CEO to the CIO to maximise ESG development capabilities.
Under the new structure, the Kames Capital and TKP Investments brands will be retired in 2020.
The company will rebrand its fiduciary and multi-manager services as AAM Fiduciary Services & Investment Solutions and AAM Multi-Management.
NieuweWeme said: “By organizing 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.”
In May, Aegon Asset Management appointed Bas NieuweWeme as its new CEO.