Aegon says the move, which will take place on September 1, 2011, is part of its plan to accelerate the growth of its third party business with the firm saying it is keen to differentiate its specialist investment management capabilities.
The business will be headed by Andrew Fleming and will continue to manage insured funds on behalf of Aegon UK.
Sarah Russell, the chief executive of Aegon Asset Management, says: “The decision to rebrand our UK business reflects our desire to ensure alignment with the specific needs of all our customers. The Aegon Asset Management brand is a highly regarded symbol of the investment expertise we have developed to support our insurance businesses. In distinguishing our UK investment management activities under the Kames Capital brand, we will highlight our capabilities for investors in the external market.”