Bowe to head Aegon compliance

The woman who spearheaded the City watchdog's reform of the financial advice market is to join Aegon as its UK group compliance director, the Edinburgh-based insurer has revealed.

Amanda Bowe held several strategy and planning positions at the Consumer Financial Education Body. She is best known for heading up the Financial Services Authority's retail distribution review (RDR) that from 2013 will change the way in which financial advice is accessed and paid for. Bowe will work closely with the regulator in her new role, where she will be responsible for regulatory management and compliance.

The move comes a week after Aegon poached Paul McMahon from rival insurer Friends Provident to become its UK group marketing director.

Bowe's appointment is the latest in a series of changes at Aegon, which last summer unveiled a restructure that will see costs cut by a quarter by the end of 2011. Bowe takes up the role in April and will report to Charles Garthwaite, chief risk officer. She will replace Chris Ham, who resigned late last year and leaves in May.

Garthwaite said Bowe was renowned in the industry for her leadership of the RDR.

"Her insight and knowledge of the reforms shaping our industry, and the regulatory framework in which we operate, will be invaluable as Aegon pushes forward with its new strategy," he said.