Ian Bailey retired as head of delegated, Europe, the Middle East and Africa at Aon Hewitt, said a spokeswoman for the consultant.
In preparation for his departure, Aon created its investment solutions division, a global platform for its delegated investment business. "Distribution of our solutions are carried out locally to fit the different investor needs," said a statement provided by the spokeswoman.
These changes mean Mr. Bailey's role no longer exists. However, in the six months leading up to his retirement, Mr. Bailey worked to transition the business to its new global structure.
Effective in the first quarter, Aon Hewitt also created two new roles, promoting Steven Vale to head of Aon investment solutions for EMEA. His previous role could not be learned by press time. Sion Cole became head of distribution for EMEA. He was partner and head of client solutions for delegated consulting. The spokeswoman said they "largely" retain their previous responsibilities, with larger support teams to implement their chosen strategies.