Royal London has announced that Hans Georgeson has stepped down as Chief Executive Officer of Royal London Asset Management after five years leading the business.

During his tenure, the asset management arm expanded its overall operations and strengthened its profile as a UK responsible investor. Group Chief Executive Officer Barry O’Dwyer will initiate a search process to select a permanent successor.

In the interim, Royal London Group Chief Financial Officer Daniel Cazeaux has been appointed to lead the asset management unit.

Cazeaux joined Royal London in 2020 and is a chartered accountant. Prior to his current role, he served as a partner at KPMG in the UK, where he directed client teams advising financial services companies across global and domestic markets.

During his time at Royal London, Cazeaux has helped shape strategic initiatives for the asset management division. He played a key role in expanding the group’s presence in private markets, which included the acquisition of UK infrastructure investment manager Dalmore Capital.

To ensure management stability during the transition period, Cazeaux will join the boards of Royal London Asset Management, Royal London Unit Managers and Royal London Unit Trust Managers. He will also retain his seat on the Royal London Mutual Insurance Society Board.

Barry O’Dwyer, Group Chief Executive Officer, Royal London, said: “I would like to thank Hans for his significant contribution over the past five years. Under his leadership, Royal London Asset Management has grown strongly, broadened its investment capabilities and strengthened its position as a leading UK asset manager. We wish him continued success in his next role.

“Dan is an excellent interim appointment. He combines deep financial services expertise with a strong understanding of Royal London, Royal London Asset Management and the strategic priorities shaping the business. This means he is well placed to support Royal London Asset Management through this period and maintain our focus on delivering for clients.”

Daniel Cazeaux, interim Chief Executive Officer, Royal London Asset Management, said: “Royal London Asset Management is a business with strong momentum, a clear strategy and a highly capable leadership team. I have worked closely with Hans over recent years and have seen first-hand the strength of Royal London Asset Management’s investment capabilities, client focus and long-term ambition. I look forward to working with colleagues to maintain that momentum, continue delivering for clients and support the next stage of the business’s growth.”