Duncan Russell will step down from the role of chief financial officer at Aegon, ahead of the firm’s planned move of its head office and legal seat to the United States.

The company announced that Mr Russell will leave Aegon in April 2027.

In the meantime, the financial services provider is searching for his successor.

Aegon chief executive Lard Friese said Mr Russell has made an invaluable contribution to the transformation of the company, strengthening their financial foundations and positioning the company for long-term success.

“He has also been a trusted adviser to me personally, and I have greatly valued his counsel and partnership,” Mr Friese said. “On behalf of the board of directors and all our colleagues, I would like to thank him for his leadership and dedication.”

Mr Russell said it had been a privilege to contribute to Aegon’s transformation over the past years, working alongside colleagues across the organisation.

“I am proud of what we have achieved together and believe Aegon is well positioned to deliver on the ambitions set out at its capital markets day,” he said. “While I will not be part of that next phase, I remain confident in the company’s future and fully committed to supporting an orderly transition.”