AXA Group simplifies operating model in bid to accelerate transformation, global EB not impacted
AXA Group is simplifying its operating model, empowering its entities to operate closer to their customers. In order to accomplish this, AXA will shift from its current, three-layer model of separate head office, global business lines, and regional headquarters, to a refocused corporate center that will oversee five geographies (France, Europe, the U.S., Asia, and International).
Concurrently managed with the five geographies will be key transversal entities AXA Investment Managers and AXA Corporate Solutions (AXA’s large insurance risks P/C business). Their CEOs will report to the Group CEO, while in Europe, direct and traditional entities will report to a country CEO, which will accelerate the synergies between direct and traditional business.
This project was presented to the Group’s employees in mid-October 2017, and AXA expects the new operating model to be effective in the first quarter of 2018.
The new model has precipitated the formation of a new Management Committee with new appointments, effective 1 December 2017. These appointments include:
- Gérald Harlin, Chief Financial Officer, who is appointed Deputy CEO (“Directeur général adjoint”), in addition to his current responsibilities;
- George Stansfield, General Secretary, who is appointed Deputy CEO (“Directeur général adjoint”), in addition to his current responsibilities;
- Benoît Claveranne, who is appointed CEO International and New Markets;
- Mark Pearson, CEO of AXA US;
- Jacques de Peretti, Chairman, and CEO of AXA France.
Four new members will join the Management Committee:
- Alban de Mailly Nesle, who remains Group Chief Risk Officer and takes on the additional responsibility of the new Group Insurance office;
- Antimo Perretta, who is appointed CEO Europe;
- Astrid Stange, who is appointed Chief Operating Officer;
- Gordon Watson, who will join the Management Committee on January 1st, 2018, in the role of CEO Asia.
AXA also announced the senior appointments of Karima Silvent, who is currently Human Resources Director of AXA France, to Group Human Resources Director, and Guillaume Borie, currently Group Corporate Development Director, to Chief Innovation Officer.
The press release did not address the transversal global employee benefits and global mobility businesses that include MAXIS; legacy pooling relationships; AXA France’s expat portfolio; and AXA PPP International. However, it is not expected that these operations will be impacted by this reorganization.