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View the article online at http://citywire.co.uk/wealth-manager/article/a582982

Dromer to leave as Aviva gets simple

by Emma Dunkley on Apr 19, 2012 at 09:39

Alain Dromer, chief executive of Aviva Investors, is leaving the firm as part of a restructure being undertaken by Aviva to create a ‘flatter organisation.’

The firm said: ‘We will be recruiting a successor to Alain who will report to Pat Regan, CFO (chief finance officer), to lead the next stage of Aviva Investors’ development.’

As part of the refocus, Trevor Matthews, chief executive officer (CEO) of Aviva’s UK region, has been appointed executive director for developed markets. In this role, he will chair the UK and Ireland board, and hold responsibilities for Canada, Italy and Spain.

The three CEOs of Aviva's largest businesses will be joining the company's general executive committee and report directly to Andrew Moss. These are David Barral, CEO of UK & Ireland (UK&I) Life Insurance, David McMillan, CEO of UK&I General Insurance, and Philippe Maso, CEO of France.

Meanwhile, Chris Littlefield, CEO of Aviva USA, will also report to Andrew Moss. This change follows the news that Aviva is planning to raise $1 billion via the sale of its US operations.

'Simplified' Aviva

The restructure is being undertaken to 'simplify and bring more focus to the business’, Aviva said, and a number of changes across the company following a strategic review have led to cuts after the decision was taken to remove the regional layer of the firm’s structure.

Alongside Dromer's exit, the changes will see Richard Hoskins, CEO of North America, leave.

Igal Mayer, who sits on the board of Aviva, has also resigned from the board and will be leaving the firm at the end of May. As a result Mayer will not be seeking re-election as a director at Aviva’s AGM on 3 May.

Meanwhile, Pat Regan will continue as the group’s CFO and will assume responsibility for Aviva Investors.

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