11 March 2008
AXA & Winterthur Wealth Management announces its plans to expand its offshore business into Europe, following the appointments of Kevin Dean as CEO and Mike Foy as Managing Director for AXA Isle of Man (IoM) with immediate effect.
As part of a new international offshore business proposition at AXA IoM, the business will work alongside AXA Life Europe and will develop offshore products targeted at UK expatriates. Initially the focus will be on Europe, the Middle East and the United Arab Emirates, with a view to rolling out the offering globally in due course.
This development is in response to demand from international clients and enables AXA & Winterthur Wealth Management to continue building on the strength of its current offshore offering.
Kevin Dean retains overall responsibility for the offshore business but with the new focus of building the international programme. Mike Foy will report to Kevin and be responsible for the daily management of the IoM business. Formerly, Mike has been responsible for overseeing investment operations and strategic development.
Commenting on the appointments, Mike Kellard, CEO, AXA & Winterthur Wealth Management, said: "As the market leading offshore business in the UK, AXA Isle of Man has seen tremendous growth over the past few years culminating in receipt of over £2bn in 2007; this is in excess of 25% of all offshore business in the UK. The offshore business offers great benefits to clients and the new European plans will widen its offering to a new range of consumers.
"I would also like to congratulate both Kevin and Mike on their new appointments. Their extensive offshore and investment experience at AXA means they are extremely well placed to lead this exciting international business."
-End-
For further information:
Paul Riddell, Press Office, +44 (0)1256 798099
Becky Holmes, Press Office, +44 (0)1256 798310
Christine Wood, FD, +44 (0)20 7269 7253
Notes to Editors
AXA Isle of Man
AXA Isle of Man Limited is based in the Isle of Man and is subject to a different regulatory system from the United Kingdom. The Isle of Man has its own Financial Services Ombudsman Scheme and policyholder compensation scheme. Further details of these schemes can be found in our current product guides.
AXA & Winterthur Wealth Management
AXA is a worldwide insurance group. In the UK the two AXA companies offering the Wealth Management proposition are, Winterthur Life UK Limited (registered no.3116645) and AXA Sun Life Services PLC (registered no.3424940).
Winterthur Life UK Limited and AXA Sun Life Services PLC are authorised and regulated by the Financial Services Authority. Both companies are registered in England and have their registered office at 5 Old Broad Street, London, EC2N 1AD.
AXA
AXA UK is a part of the AXA Group. AXA Group is a worldwide leader in Financial Protection.
AXA's operations are diverse geographically, with major operations in Europe, North America and the Asia/Pacific area. IFRS revenues amounted to €94 billion for the full year 2007.
The AXA ordinary share is listed on Compartment A of Euronext Paris under the ticker symbol CS (ISIN FR0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA). The American Depository Share is also listed on the NYSE under the ticker symbol AXA.
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