Article date: 12 July 2007
Aviva plc, the savings, investments and insurance group, announces today that Alain Dromer has been appointed chief executive, Aviva Global Investors and Morley. Alain will report to Aviva group chief executive, Andrew Moss, and will join Aviva's group executive committee.
In addition to his role at Morley, Alain will have a mandate to create and lead a global asset management operation, Aviva Global Investors, designed to capitalise on the existing strengths of Aviva's asset management businesses around the world.
Alain was most recently the global head of group investment businesses at HSBC where he grew funds under management from US$123 billion to US$328 billion between 2001 and 2006. He brings with him considerable international asset management experience and has an acknowledged reputation for developing high growth businesses through a focus on strong client service, innovation and people management. He will take up this new role on 3 September 2007.
Andrew Moss, group chief executive of Aviva, said: "My priority is for Aviva to realise the full potential of its existing businesses. Alain's appointment signals a new approach to asset management at Aviva. It is a core part of our business and I have a clear ambition to harness the power and potential of the group's asset management operations around the world.
"Alain is a highly regarded figure in the international investment community. His credentials position him extremely well to create and implement our strategy for global asset management."
Before joining HSBC in 2001, Alain was a member of the executive committee of Credit Commercial de France (CCF), where he was responsible for asset management and insurance; and before that he was director of capital markets at La Compagnie Financiere Edmond de Rothschild.
Alain Dromer said: "I'm delighted to be joining Aviva at this time of change and new ideas. This is a compelling and unique opportunity to bring Aviva's vision for global asset management to life. Using Morley as the foundation, I look forward to working with Aviva's other asset management teams to create a truly global investment operation."
The appointment is subject to regulatory approval.
Hayley Stimpson, director of external affairs, Aviva
+44 (0)20 7662 7544
Fiona Baker, head of corporate communications, Morley
+44 (0)20 7809 8617
James Murgatroyd/Ed Simpkins, Finsbury
+44 (0)20 7251 3801
Charles Barrows, investor relations director
+44 (0)20 7662 8115
Amanda Wilbraham, senior manager, investor relations
+44 (0)20 7662 2111
Notes to editors:
- A photograph of Alain Dromer can be downloaded from the Aviva media centre image library at http://www.aviva.com/index.asp?PageID=60&imageid=782
Aviva's international asset management capability
- Morley has asset management operations in the UK, Australia (Portfolio Partners), Poland (CUIM Polska), Ireland (Hibernian Investment Managers) and the USA (MFM International).
- In addition, Aviva has asset management operations in France (Aviva Gestion d'Actifs), The Netherlands (Delta Lloyd) and the USA (Aviva Capital Management).
- Aviva is the leading provider of life and pensions to Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2006.
- Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of £41.5 billion and assets under management of £364 billion at 31 December 2006.
- The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive.
- Morley is the UK-based asset management business of Aviva plc.Firms within the Morley group of companies manage £165bn (€246bn) from offices around the world as at 31 March 2007.
- Morley manages both institutional and retail funds. It also acts as investment manager for a range of retail investment funds, marketed in the UK under the Norwich Union brand and in Europe under the Morley name.
- Further information about Morley can be found at http://www.morleyfm.com/