Firm says comments did not reflect his views

Aegon MD moves to US a year after advisory row

David MacMillanAegon UK managing director David Macmillan is taking a job in the firm’s US business less than a year after he was embroiled in a row with the advisory sector.

Macmillan, who is also chief marketing officer at the provider, will join Transamerica later this year to become chief customer experience officer.

He was said to behind the life company’s decision last year to target clients directly rather than through advisers and brokers.

A year ago Sam Roddick, who headed Deloitte Digital, which worked with Aegon to develop its direct-to-consumer proposition Retiready, said Macmillan had realised the commission ban had ‘disintermediated’ advisers and brokers, meaning that providers needed to build their own relationships with clients.

Aegon said that Roddick’s comments did not accurately reflect the provider’s or Macmillan’s views.

Macmillan joined Aegon in 2011. Prior to this he was chief executive at Invocas Group, a debt management firm, for three years.

He was also previously chief executive at financial risk management specialist Barrie & Hibbert, a role he took on after 16 years at Standard Life, where he was UK retail director.

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