Aegon has announced the appointment of Duncan Russell in the newly created role of chief transformation officer (CTO), effective 1 September 2020.

In his new role he will be responsible to lead the group strategy and corporate development. Russell will report to Lard Friese, CEO and become a member of Aegon’s management board.

Russell will work closely with the executive board in setting the strategic direction of the firm and will lead the activities in the areas of group strategy and corporate development.

He joins from Admiral Group where he most recently served as chief finance officer of Admiral Financial Services. Prior to that he was managing director at J.P. Morgan.

Lard Friese, Aegon CEO said: "I am very pleased to announce the appointment of Duncan Russell as our Chief Transformation Officer. Duncan brings a wealth of experience in the financial services sector and is a great addition to our team. He is the right person to lead our group strategy development and to drive initiatives focused on improving our overall performance. Duncan and I have worked closely together before and I look forward to our renewed collaboration."