Aviva Investors’ CEO Alain Dromer to leave in management revamp

Insurance parent seeks “flatter organisation”

Alain Dromer, the chief executive of UK fund management giant Aviva Investors, is to leave the firm as part of a management restructuring at parent company Aviva Plc, the insurer.
Dromer, a member of the Aviva Plc group executive committee, joined from HSBC in 2007.
Aviva said it will be recruiting a successor who will report to group CFO Pat Regan “to lead the next stage of Aviva Investors’ development”. Regan will assume responsibility for Aviva Investors, which has £262bn (€320bn) in assets under management.
“Alain Dromer has transformed Aviva Investors, creating an integrated asset management business and successfully growing external sales to record levels in 2011,” Aviva said in a statement.
Dromer recently stood down as chairman of the Association of British Insurers’ influential InvestmentCommittee, where he was replaced by Robert Talbut of Royal London Asset Management.
Dromer’s departure comes as Aviva announced a “new flatter organisation” to simplify its strategy and bring more focus to its business.
It will provide more detail on the “cost savings associated” with these changes at the investor event on May 24.
UN Principles for Responsible Investment signatory Aviva Investors has been instrumental in environmental social and governance initiatives such as the Sustainable Stock Exchanges project.
Dromer recently led the review that led to Aviva Investors closing down its SRI equities desk in London amid a cut of 160 jobs. Last year it was announced he had joined the Institutional Investor Committee’s new high-level Advisory Council.