UK - Insurance giant Aviva has appointed HSBC's Alain Dromer to replace the late Chris Phillips as chief executive of Morley Fund Management.
Dromer, who joins in September, has also been tasked with a mandate to create and lead Aviva Global Investors, a new global asset management business.
Rebranding the various global Aviva asset management divisions under one title is one of the options Dromer will consider, a spokeswoman told IPE today.
Aviva's global asset management business, consisting of Aviva Gestion d'Actifs in France, Delta Lloyd in the Netherlands, and Aviva Captial Management in the US, has £364bn in assets under management.
Morley, which has operations in the UK, Australia, Poland, Ireland and the US, manages £165bn.
"Aviva have been looking at the asset management operation, and for a group that is the size and the scale of Aviva operating asset management in a fragmented way is not as effective as managing it on a global basis," the spokeswoman said.
Phillips, who early this year announced his departure as chief executive of Scottish Widows Investment Partnership to join Morley, died in April aged 50 while on holiday in Spain.
Dromer's appointment is made today by Andrew Moss, the new Aviva chief executive, on his first day in office.