Re -branding to reflect arm's Scottish heritage

Aegon is to re-brand its UK asset management arm in a move it says will help the business to pick up new customers.

The Edinburgh-based firm said the division will trade as Kames Capital from 1 September, a "bold, powerful name" chosen "after a lengthy research and selection process" because it reflected the firm's Scottish heritage.

Kames will be headed by Andrew Fleming and will continue to manage insured funds on behalf of Aegon UK, while underpinning Aegon Asset Management's ambition to extend its third-party business.

Other parts of the business will continue to use the Aegon name.

Asset management chief executive Sarah Russell said: "In distinguishing our UK investment management activities under the Kames Capital brand, we will highlight our capabilities for investors in the external market."

Aegon built its brand name in the UK following its 1994 takeover of Scottish Equitable. Its most high-profile campaign has been its 25 million sponsorship of the Lawn Tennis Association, but earlier this year new group chief executive Adrian Grace indicated he was ditching the strategy of building a "big brand".