Bas NieuweWeme was named global CEO of Aegon Asset Management, a spokesman said.
Mr. NieuweWeme replaces Sarah Russell in the role effective June 24.
Ms. Russell is "stepping down as she feels it is the right time for new leadership," the spokesman said, adding that she is a non-executive board member at Nordea Bank and a member of the supervisory board of Nederlandse Investeringsinstelling and "may consider expanding her non-exec portfolio."
"(Ms. Russell) has been creating and building a successful global asset management business over the past nine years, which is now ready for the next stage of development. (Mr. NieuweWeme's) appointment signals Aegon's continuing commitment to build a growing and sustainably profitable business. He will bring a fresh perspective gained from having worked with leading global asset management firms, in the world's largest markets," Alex Wynaendts, CEO of parent Aegon, said in a news release.
Mr. NieuweWeme was previously managing director and global head of the institutional relationship group at PGIM. Details of his replacement could not be learned.
Aegon Asset Management has €315 billion ($353 billion) in assets under management.