Aviva today announced plans to combine its 10 worldwide asset management businesses and one asset manager partner under one unit called Aviva Investors, which will have £316 billion ($628 billion) in assets under management, spokeswoman Fiona Baker confirmed.
The largest asset manager within the group is Morley Fund Management, which had £167 billion in assets under management as of Sept. 30. In North America, Avivas asset management businesses are Aviva Capital Management, MFM International and Aviva Investment Canada. The company also owns fund managers in France, Australia, Ireland, Poland, Spain and Romania.
Greg Boal, current president of Aviva Capital Management, will become CEO of North America for Aviva Investors. Craig Bingham, CEO of its Australian business, Portfolio Partners, will become CEO of the Asia Pacific region. Ian Womack, managing director and head of property investments at Morley Fund Management, will become managing director of Aviva Investors global property division.
Were bringing together all of our asset management businesses from all around the world, Ms. Baker said in a telephone interview. In the past, weve operated in a very fragmented way. By bringing it all together, we believe well be able to become more powerful by providing better services to our clients.