Aegon promotes new CFO

Bermuda-based life insurer Aegon has appointed Duncan Russell to be chief financial officer, succeeding Matt Rider, who is retiring. 

Russell joined Aegon, which redomiciled to Bermuda earlier this year, as chief transformation officer in 2020. Prior to Aegon, he worked at UK-based Admiral Group, where he last held the position of CFO of Admiral Financial Services. Prior to that, he worked for NN Group and at JP Morgan. 

“I am pleased to appoint Duncan Russell as our new CFO,” said Aegon CEO, Lard Friese. “I am confident that with his financial acumen, deep insurance expertise and comprehensive knowledge of the capital markets and our organization, he will continue to contribute to the success and transformation of our company."

Russell said: “I am grateful for the opportunity to be the next CFO of Aegon. We have ambitious operational, strategic, and financial goals and I am excited to continue working with my colleagues to deliver on them.” 

Rider retires after "over seven years of exceptional service to the company" and will serve as a member of the Board of Transamerica on a non-executive basis.

Friese said: “I also want to extend my deepest gratitude to Matt Rider for his dedication and contribution over the years. His wealth of financial and insurance expertise, his leadership and guidance have been instrumental in building and maintaining Aegon’s strong financial profile and improving its financial performance.”

Rider added: “It has been a privilege to serve as CFO of Aegon. I am proud of the things we have accomplished as a team and am grateful for the opportunity to have contributed. As I retire, I am confident in Duncan’s leadership, and wish him and the entire team continued success.”

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