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Kames head of wholesale quits amid Brexit reshuffle

Steve Kenny ends 16-year stint as asset manager plans for life outside the EU



Sebastian Cheek

Kames Capital has reshuffled its sales team ahead of Brexit in a move that sees Steve Kenny leave the business after 16 years.

Kenny has resigned as head of wholesale for Aegon Asset Management Europe, of which Kames is a part, as the business splits its sales force into two separate teams – one covering the UK and the other global financial institutions and international sales.

Kames’ sales in Europe will be handled by Aegon Asset Management Europe.

Brexit sales force shake-up

The reorganisation includes the creation of several new sales roles.

Sam Carter will become head of global financial institutions and international sales with a remit to develop Kames’ business in the Americas and Switzerland. He was previously head of global financial institutions.

Carter will be supported by Richard Dixon who has been appointed as international sales director. Dixon was previously head of continental sales European wholesale.

The European sales team will be responsible for sales in the remaining 27 European Union countries post-Brexit. This team will be further split into three teams: fiduciary business; Benelux and Nordics; and German-speaking and southern Europe.

Mark Savage will assume the role of head of UK distribution, leading the UK institutional and wholesale teams. Savage was previously head of UK wholesale.

All teams will report to Aegon Asset Management chief commercial officer for Europe Eric van der Maarel.

Uninterrupted service despite Brexit

The firm said the move would enable it to deliver uninterrupted service to European and UK clients, regardless of how Brexit negotiations pan out.

Kames Capital and head of Aegon Asset Management Europe chief executive, Martin Davis, said: “With the potential changes and challenges Brexit may bring post 29 March 2019, we wanted to ensure that our business model and units are fully aligned with how and where we currently do business and with the clients we serve. We believe this new structure and the creation of these new roles will ensure we provide our current and future clients with a seamless business model whatever the outcome of the current Brexit negotiations”.

“I would also like to thank Steve for his commitment and service to both Kames Capital and Aegon Asset Management over the last 16 years. He has been a major contributor to the success of our organisation throughout this time and while I respect and understand his decision to move on, I know he will be much missed both within the firm and among our many clients and business partners. We wish him every success in his future career,” he said.