LONDON Feb 7 British insurer Aviva
announced a trio of new executive appointments on Thursday in
the latest phase of a multi-pronged effort to revitalise its
Former Group Transformation Director David McMillan has been
appointed CEO of Aviva Europe, taking charge of businesses
stretching from Spain to Russia.
Former AIA Chief Administration Officer Nick Amin will
replace McMillan as the executive in charge of leading Aviva's
transformation strategy, while Jason Windsor has been promoted
to the role of chief strategy and development officer.
Windsor will also assume responsibility for Aviva's 274
billion pound ($429 billion) asset management arm, Aviva
"These changes are about ensuring we have the right people
in the right jobs and that we have the best possible leadership
team so Aviva can achieve its undoubted potential," Chief
Executive Mark Wilson said in a statement.
Trevor Matthews, the head of Aviva's developed markets
division, is also stepping down as part of the executive rejig.
Matthews will not stand for re-election to Aviva's board at
its next shareholder meeting, though he will stay on for some
months to ensure a smooth handover, the insurer said.
Australian-born Matthews, 60, is a well-known figure in the
British insurance industry, having previously served as chief
executive of Friends Provident and headed the British arm of
Aviva is progressing with a root-and-branch shake up of its
business after years of spiralling costs, disappointing share
price performance and an investor revolt that led to the
departure of former Chief Executive Andrew Moss in 2012.
Chairman John McFarlane sought to appease angry investors
with a comprehensive strategic review last July, which called
for the sale or closure of more than a dozen underperforming and
non-core business units.
Aviva's shares have rebounded more than 25 percent since
then, demonstrating confidence in the board's ability to manage
a litany of new regulatory challenges faced by European insurers
and compete more strongly with rivals Prudential and
Shares were up 1.56 percent at 358.4 pence by 1046 GMT,
ahead of a 0.1 percent gain in the FTSE 100.