Money Management

Aviva hires investment director to focus on bulk annuity purchases

Marcus Mollan was named investment director at Aviva, a spokeswoman said.

The position is new. Mr. Mollan will focus on bulk purchase annuities within the defined benefit solutions team, starting Thursday. Additional details could not be immediately learned.

Mr. Mollan was previously head of investment strategy and research at Legal and General Investment Management. A spokeswoman confirmed he was not directly replaced. "His responsibilities have been absorbed by the solutions team," she said.

Aviva has £450 billion ($631 billion) in assets under management.