Aviva will re-brand Morley Fund Management as Aviva Investors in a global streamlining of its asset management businesses.
The restructure will also take in nine other businesses throughout Europe, North America and Australia, including Aviva Capital Management in the US and Ireland-based Hibernian Investment Managers.
The Luxembourg-domiciled Aviva Morley SICAV fund will become the Aviva Investors SICAV fund on 1 April. It will operate as the primary vehicle for Aviva Investors’ global fund distribution and allow all businesses within Aviva Investors to sell products to customers worldwide.
Andrew Moss, group chief executive of Aviva, says: “We have a very diverse client base which we want to develop even further. Our decision to specialise and focus our investment teams satisfies the requirements of those clients who want to build portfolios themselves.”
Aviva has appointed a six-strong team to lead the business, which has an initial £316bn of funds under management. It will be formally launched in September this year.
Craig Bingham, chief executive of Portfolio Partners, becomes chief executive officer, Aviva Investors Asia Pacific.
Greg Boal, president of Aviva Capital Management, becomes chief executive officer of Aviva Investors North America.
Siobhan Boylan, chief financial officer of Morley, becomes global chief financial officer of Aviva Investors.
Chris Oglethorpe, managing director of human resources and communication at Morley, becomes global chief operating officer of Aviva Investors.
Ian Womack, managing director of property at Morley, becomes managing director Aviva Investors Global Property.
All start work on 1 March while Richard Field, director of investments at Norwich Union Life, will take up the director of Global Investment Solutions role later this year.
Today Aviva reported a 1% rise in pre-tax profit last year to £3.39bn in its annual results. The provider expects slower market growth in 2008 than 2007.
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