Aegon is to acquire BlackRock's UK defined contribution (DC) platform and administration business, adding 350,000 clients with £12bn of assets to its books.
The £30bn combined workplace business will be led by newly appointed managing director Paul Bucksey, current head of DC at BlackRock. BlackRock's clients will transfer to Aegon as part of the deal....
Gérald Harlin has been appointed executive chairman
Daunting without ad valorem feees
Elevated redemptions expected
'Should be forever young'
New manager likely to be appointed