AXA restructures operating model, makes several senior appointments

AXA Group has unveiled a new operating model under which the company will be organised based on five geographies (France, Europe, the US, Asia, and International), and a single, refocused corporate center.

The insurer expects the new operating model to be effective in the first quarter of 2018. Following which the key transversal entities will be managed alongside these five geographies, including AXA Investment Managers, AXA’s core, fully-owned asset management unit, and AXA Corporate Solutions, its large insurance risks business. The CEOs of AXA Investment Managers and AXA Corporate Solutions will report to AXA’s Group CEO.

As part of the simplification effort, in Europe, direct and traditional entities will report to the country CEO to accelerate the synergies between direct and traditional business.

The move is a part of its strategy to accelerate transformation and operate closer to its clients.

"My objective is to let our teams focus their energy on growing our business and deliver excellent service in their respective markets," said Thomas Buberl, chief executive of AXA. "I am convinced that local empowerment is instrumental to the long-term success of AXA, by making our transformation tangible on the ground, as close as possible to our clients. In order to achieve this, the simplification we are implementing is an absolute pre-requisite, but also the starting point of a large effort to make AXA simpler for all our stakeholders."

The company has also appointed a new management committee, reporting to Buberl, to steer the new operating model.

Gérald Harlin, chief financial officer, and George Stansfield, general secretary, have been appointed as deputy CEOs, in addition to their current responsibilities.

Benoît Claveranne has been appointed CEO International and New Markets; Mark Pearson as CEO of AXA US; and Jacques de Peretti, chairman and CEO of AXA France.

The insurer has also added four new members to its management committee.

Alban de Mailly Nesle, who remains group chief risk officer, will takes on the additional responsibility of the new group insurance office; Antimo Perretta is appointed CEO of Europe; Astrid Stange is named chief operating officer; and Gordon Watson will join the committee on January 1st, 2018, in the role of CEO Asia.

Buberl added: "As Deputy CEOs (“Directeurs généraux adjoints”), Gérald and George will support me in steering the strategy of the Group, and I look forward to continuing to benefit from their experience, professionalism and integrity.

"The new Management Committee is an excellent blend of the previous team together with new leaders from across the Group with strong operational experience and excellent knowledge of the insurance industry. It also confirms our ability to attract top talents: Gordon Watson has been instrumental in AIA’s growth trajectory over the recent years and I am convinced that he will lead our Asian businesses to many successes."

The company further announced that Gaëlle Olivier, CEO of AXA Global P&C; Paul Evans, CEO of AXA Global Life, savings & health; and Amélie Oudéa-Castera, chief marketing & digital officer, have decided to leave the group.

Other senior appointments include Karima Silvent, as group human resources director, and Guillaume Borie as chief innovation officer.

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