Aegon UK appoints Tommy Young as COO

Young replaces Simon Skinner who was appointed chief executive of Aegon Ireland on 8 August. The new officer will focus on cutting Aegon's costs by 25% over 2011, and overseeing the sale of closed life business Guardian to Cinven. Previously, Young was governance and controls director of Aegon's sales and distribution business, a position he held from 2009. He was head of commercial banking for England and Wales at HBOS prior to that. Adrian Grace, chief executive of Aegon, said: "Tommy is well placed to lead Aegon's life and pensions operations and position Aegon for future suc...