AEGON UK CEO Adrian Grace appointed to Management Board


 
TIDMAGN 
 
AEGON UK CEO Adrian Grace appointed to Management Board 
 
AEGON announces the appointment of Adrian Grace, Chief Executive Officer of 
AEGON's operations in the United Kingdom, to its Management Board. Mr. Grace's 
appointment is subject to the consent of the Dutch Central Bank. 
 
AEGON's Management Board was formed in 2007 to oversee the company's businesses 
internationally and the progress of its strategic growth objectives. Members of 
the Management Board are drawn from AEGON's country and operating units and 
have both regional and global responsibilities, ensuring that AEGON is managed 
as an integrated international business. Mr. Grace, who was appointed CEO of 
AEGON UK in March 2011, will continue his responsibilities for the UK and 
Variable Annuities Europe in conjunction with his new Management Board role. 
 
"Adrian has played the leading role in planning and carrying out the 
transformation program currently underway within our UK business," said AEGON 
CEO Alex Wynaendts. "His appointment to the Management Board is a reflection of 
the continued importance our business in the UK represents within our strategic 
priorities and we look forward to benefitting from his extensive experience and 
insights as we address the broader opportunities and challenges for AEGON's 
businesses." 
 
The Management Board currently consists of the following members: 
 
  * Alex Wynaendts, CEO AEGON N.V. 
 
  * Jan Nooitgedagt, CFO AEGON N.V. 
 
  * Mark Mullin, CEO AEGON Americas 
 
  * Marco Keim, CEO AEGON The Netherlands 
 
  * Gábor Kepecs, CEO AEGON Central & Eastern Europe 
 
Adrian Grace 
 
Adrian Grace is currently CEO of AEGON's UK business, and responsible for 
leading operations across all of AEGON's UK life and pensions business, and 
distribution businesses and AEGON's variable annuity business in Europe. As CEO 
he has been responsible for leading the major business transformation plan now 
underway as AEGON UK repositions its UK business for future success. A 
centerpiece of the program was achieving a reduction in operating costs by 25% 
by end 2011 - which was delivered -- and refocusing the business on the two 
growth markets of "at retirement" solutions and workplace savings, where AEGON 
already has strong positions. 
 
Adrian was previously Chief Operating Officer, a role he held from February 
2010, and in this role was responsible for defining and initiating the business 
transformation program. Adrian joined AEGON in February 2009 as Director of 
Group Development. 
 
Adrian built his career at GE Capital, where over ten years he held a variety 
of business development roles including periods based in the US and Far East. 
He also held managing director roles at Sage Group, HBoS and Barclays 
Insurance. These roles have given Adrian broad perspective and insight into 
diverse businesses. They have also given him experience of culture driven by 
excellence, execution against strategy and of successfully turning around an 
organization. 
 
External Positions: 
 
Adrian is a member of the Board of Scottish Financial Enterprise. 
 
 
Forward-looking statements 
 
The statements contained in this document that are not historical facts are 
forward-looking statements as defined in the US Private Securities Litigation 
Reform Act of 1995. The following are words that identify such forward-looking 
statements: aim, believe, estimate, target, intend, may, expect, anticipate, 
predict, project, counting on, plan, continue, want, forecast, goal, should, 
would, is confident, will, and similar expressions as they relate to our 
company. These statements are not guarantees of future performance and involve 
risks, uncertainties and assumptions that are difficult to predict. We 
undertake no obligation to publicly update or revise any forward-looking 
statements. Readers are cautioned not to place undue reliance on these 
forward-looking statements, which merely reflect company expectations at the 
time of writing. Actual results may differ materially from expectations 
conveyed in forward-looking statements due to changes caused by various risks 
and uncertainties. Such risks and uncertainties include but are not limited to 
the following: 
 
  * changes in general economic conditions, particularly in the United States, 
    the Netherlands and the United Kingdom; 
 
  * changes in the performance of financial markets, including emerging 
    markets, such as with regard to: 
 
  * the frequency and severity of defaults by issuers in our fixed income 
    investment portfolios; and 
 
  * the effects of corporate bankruptcies and/or accounting restatements on the 
    financial markets and the resulting decline in the value of equity and debt 
    securities we hold; 
 
  * the effects of declining creditworthiness of certain private sector 
    securities and the resulting decline in the value of sovereign exposure 
    that we hold; 
 
  * changes in the performance of our investment portfolio and decline in 
    ratings of our counterparties; 
 
  * consequences of a potential (partial) break-up of the euro; 
 
  * the frequency and severity of insured loss events; 
 
  * changes affecting mortality, morbidity, persistence and other factors that 
    may impact the profitability of our insurance products; 
 
  * reinsurers to whom we have ceded significant underwriting risks may fail to 
    meet their obligations; 
 
  * changes affecting interest rate levels and continuing low or rapidly 
    changing interest rate levels; changes affecting currency exchange rates, 
    in particular the EUR/USD and EUR/GBP exchange rates; 
 
  * changes in the availability of, and costs associated with, liquidity 
    sources such as bank and capital markets funding, as well as conditions in 
    the credit markets in general such as changes in borrower and counterparty 
    creditworthiness; 
 
  * increasing levels of competition in the United States, the Netherlands, the 
    United Kingdom and emerging markets; 
 
  * changes in laws and regulations, particularly those affecting our 
    operations, ability to hire and retain key personnel, the products we sell, 
    and the attractiveness of certain products to our consumers; 
 
  * regulatory changes relating to the insurance industry in the jurisdictions 
    in which we operate; 
 
  * acts of God, acts of terrorism, acts of war and pandemics; 
 
  * changes in the policies of central banks and/or governments; 
 
  * lowering of one or more of our debt ratings issued by recognized rating 
    organizations and the adverse impact such action may have on our ability to 
    raise capital and on our liquidity and financial condition; 
 
  * lowering of one or more of insurer financial strength ratings of our 
    insurance subsidiaries and the adverse impact such action may have on the 
    premium writings, policy retention, profitability of its insurance 
    subsidiaries and liquidity; 
 
  * the effect of the European Union's Solvency II requirements and other 
    regulations in other jurisdictions affecting the capital we are required to 
    maintain; 
 
  * litigation or regulatory action that could require us to pay significant 
    damages or change the way we do business; 
 
  * as our operations support complex transactions and are highly dependent on 
    the proper functioning of information technology, a computer system failure 
    or security breach may disrupt our business, damage our reputation and 
    adversely affect our results of operations, financial condition and cash 
    flows; 
 
  * customer responsiveness to both new products and distribution channels; 
 
  * competitive, legal, regulatory, or tax changes that affect profitability, 
    the distribution cost of or demand for our products; 
 
  * changes in accounting regulations and policies may affect our reported 
    results and shareholder's equity; 
 
  * the impact of acquisitions and divestitures, restructurings, product 
    withdrawals and other unusual items, including our ability to integrate 
    acquisitions and to obtain the anticipated results and synergies from 
    acquisitions; 
 
  * catastrophic events, either manmade or by nature, could result in material 
    losses and significantly interrupt our business; and 
 
  * our failure to achieve anticipated levels of earnings or operational 
    efficiencies as well as other cost saving initiatives. 
 
Further details of potential risks and uncertainties affecting the company are 
described in the company's filings with Euronext Amsterdam and the US 
Securities and Exchange Commission, including the Annual Report on Form 20-F. 
These forward-looking statements speak only as of the date of this document. 
Except as required by any applicable law or regulation, the company expressly 
disclaims any obligation or undertaking to release publicly any updates or 
revisions to any forward-looking statements contained herein to reflect any 
change in the company's expectations with regard thereto or any change in 
events, conditions or circumstances on which any such statement is based. 
 
 
 
 
About AEGON 
 
As an international life insurance, pension and asset management company based 
in The Hague, AEGON has businesses in over twenty markets in the Americas, 
Europe and Asia. AEGON companies employ over 25,000 people and have some 
40 million customers across the globe. 
 
Key figures - EUR     Full year 2011 Full year 2010   Third quarter   Full year 
                                                               2010        2009 
 
Underlying earnings      1.5 billion    1.8 billion     473 million 1.2 billion 
before tax 
 
New life sales           1.8 billion    2.1 billion     527 million 2.1 billion 
 
Gross deposits            32 billion     33 billion     9.4 billion  28 billion 
 
Revenue-generating       424 billion    413 billion     405 billion 363 billion 
investments (end of 
period) 
 
Contact information 
 
Media relations: 
 
Greg Tucker 
 
+31(0)70 344 8956 
 
gcc-ir@aegon.com 
 
Investor relations: 
 
Willem van den Berg 
 
+31 (0)70 344 8305 
 
877 548 9668 - toll free USA only 
 
ir@aegon.com 
 
www.aegon.com 
 
FEBRUARY 17, 2012 
 
PRESS RELEASE 
 
 
 
END
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