Aegon has concluded the final steps of its takeover of BlackRock's defined contribution (DC) platform and administration businesses over two years after announcing the plans.
About £15bn of assets have been transferred since the deal was announced in May 2016, with the final phase of transferring around 450,000 customers completed today (3 July) after being approved by a court last week. The provider now has around £38bn assets under administration (AUA) within the workplace pension market, and pledged to develop its workplace savings proposition as part of a "refreshed" strategy for what it sees as a "key market". Aegon chief distribution officer Ronnie Taylor - who is leading the combined proposition after joining the firm from Scottish Widows in Februar...
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