Axa UK today declared its intention to triple funds under management at its wealth division to £45bn within five years after offloading its life proposition to Resolution-owned Friends Provident.
Former Axa Life CEO Paul Evans, now Axa UK deputy chief executive, says the company will boost investment in its Elevate wrap platform and multi-manager proposition Architas, as well as its Axa Winterthur pensions operation and international business based in the Isle of Man. Axa UK today agreed to sell its life arm - encompassing its traditional life and pensions book, IFA protection and group pension business - to Clive Cowdery's buyout vehicle Resolution for £2.75bn. But, while Evans says it is a "sad day" to sell a part of the company, he claims the move will enable the business t...
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