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MONEY MANAGEMENT

Aegon US CEO adds title of president of Aegon USA Realty Advisors

Gary Black, CEO of Aegon Asset Management US, has taken on the additional responsibilities of president of its U.S. real estate asset management business, Aegon USA Realty Advisors, spokesman Armel Leslie said.

Mr. Leslie also confirmed that Scott Cote and Christoph Gabler have been named executive vice presidents and co-heads of real estate. Messrs. Cote and Gabler will jointly lead AURA's day-to-day business operations.

The moves are part of plan by Aegon to grow its real estate investment business in the U.S.

“U.S. real estate assets present a significant and growing alternative investment opportunity,” said Sarah Russell, CEO of parent company Aegon Asset Management, which is based in Amsterdam, in a statement. “Leveraging that opportunity is a core element of our strategic vision for Aegon Asset Management. I am confident that under the direction of Gary Black, Scott Cote and Christoph Gabler, we will significantly expand our alternative investment strategies for institutional investors in the U.S. and abroad.”

Mr. Black joined Aegon Asset Management US in June 2016 as CEO. He was previously co-chief investment officer of Calamos Investments.

Mr. Cote, who joined Aegon in 1997, was formerly head of AURA's commercial mortgage loan, agriculture loan and engineering groups. Mr. Gabler, who joined AURA in 2000, was formerly head of community investments.

Mr. Leslie said their previous duties will be assumed by other team members.

AURA had $17.8 billion in assets under management as of Dec. 31.