Aegon poaches retail and marketing big hitters from RBS and Nationwide

AEGON UK, best known for its Scottish Equitable brand, has poached a top Royal Bank of Scotland retail banking executive and another senior marketing figure from Nationwide Building Society to spearhead further expansion of its retail offering.

Feilim Mackle, who becomes director of individual business with responsibility for pushing the sale of self-invested pension products, was previously managing director of RBS's retail banking division. He succeeds Peter Dornan, who will move to a new role of director of partnership and distribution development, responsible for developing Aegon's relationships with distribution partners such as Barclays, and affinity group marketing.

Steve Clode, who was responsible for the Nationwide's "Proud to be Different" marketing campaign, takes on the new role of director of marketing and customer strategy.

Hide Ad
Hide Ad

The top appointments are seen as a bold statement of intent in Aegon's plan to increase its share of the UK life and pensions market from about 7.9 per cent today to 10 per cent in three years.

Aegon is currently number two in the SIPPs market. Mackle will also take charge of personal pensions, life assurance, annuities and retirement solutions, which accounted for 62 per cent of Aegon's overall new life and pensions business in the first half, up from 54 per cent. New individual business in the first half of 2007 rose 39 per cent on the previous year.

Clode, meanwhile, will be responsible for brand development and marketing, including sponsorship strategy, working right across the business. At Nationwide he managed all marketing and sponsorship strategy, including the sponsorship of the England football team.

Aegon chief executive Otto Thoresen, who took over the Edinburgh-based business two years ago, said: "Aegon has increased its market share and improved its financial performance, achieving record levels of new business and profitability.

"But we are determined to develop the business further still. These new appointments add fresh talent and will help us achieve future success.

"Feilim has a reputation as a high achiever and experience in building strength and scale in the life and pensions market, and Steve has played a pivotal role in transforming the Nationwide brand, and importantly, changing the way customers now view that organisation.

"I am delighted that two such high- calibre executives are joining Aegon and I look forward to working with them as we move forward with our plans for the UK market."