LONDON  –  2 August 2005 – Aon Asset Management (AAM), a leading provider of Manager of Managers services to the pensions industry, has appointed Tony Child as Distribution Director to secure Manager of Managers distribution deals throughout Europe, focusing on the international life and banking sectors.

The role follows AAM’s recent success in the life and investment market, where it secured a deal with Norwich Union to run its new range of Manager of Managers funds. The new arrangement provides Norwich Union’s customers with access to some of the best investment managers in the world, many of whom were previously available only to pension schemes and larger corporates.¹

Commenting on Child’s appointment, Adrian Swales, Managing Director of AAM said: “Tony brings over 30 years’ experience to AAM, with a long and successful track record of selling financial products to UK and continental European insurance and fund management companies. We are excited by Tony’s decision to join us and feel that with his knowledge of the financial services industry and his high level relationships we can successfully replicate our business model in the UK retail space across a number of strategic markets in Europe.”

Mr Child was previously Head of European Insurance at The Bank of New York (London) and prior to that he held the position of Head of European Insurance at First Union National Bank (London). Earlier roles included Client Relationship Manager and Vice President with Bankers Trust Company (London), where Mr Child was responsible for their European insurance business.

Mr Child added: “I got to know Aon Asset Management extremely well during my tenure at The Bank of New York, when we worked together on fund administration. I was greatly impressed by their professionalism and enthusiasm over many months of close cooperation. Joining such a dedicated team was an easy decision to make, and I relish the challenge of ensuring that our Manager of Managers product is as successful in Europe as it is in the UK.”

In his new role, Mr Child will report to Adrian Swales.

Note to Editors:



1. The Manager of Managers funds comprise Income, Cautious, Balanced and Growth funds, and will be available through IFAs and Norwich Union’s direct distribution channels. 

The new deal gives Aon Asset Management responsibility for selecting the underlying managers across Norwich Union’s OEIC, ISA, PEP and life products, tracking their performance and changing them when necessary.

Aon Asset Management Limited (AAM) is a leading provider of Manager of Managers services to the pensions industry. AAM’s investment philosophy is simple: we believe that the key to a successful Manager of Managers offering is to select and appropriately combine good investment managers. Aon Asset Management is part of Aon Corporation.

About Aon

Aon Corporation (www.aon.com) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. The company employs approximately 48,000 professionals in its 500 offices in more than 120 countries.  Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.

This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995.  These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results, depending on a variety of factors.  Potential factors that could impact results include the general economic conditions in different countries around the world, fluctuations in global equity and fixed income markets, exchange rates, rating agency actions, resolution of pending regulatory investigations and related issues, including those related to compensation arrangements with underwriters, pension funding, ultimate paid claims may be different from actuarial estimates and actuarial estimates may change over time, changes in commercial property and casualty markets and commercial premium rates, the competitive environment, the actual costs of resolution of contingent liabilities and other loss contingencies, and the heightened level of potential errors and omissions liability arising from placements of complex policies and sophisticated reinsurance arrangements in an insurance market in which insurer reserves are under pressure.  Further information concerning the Company and its business, including factors that potentially could materially affect the Company’s financial results, is contained in the Company’s filings with the Securities and Exchange Commission.