Cofunds is a fundmarket that provides investment platform services in the UK. The company's product options include bond, pension, collectives and cash services. It also provides consolidation, investor administration, online investor, intermediary and integration services.
The company, which is based in London, was bought by Aegon, the pensions, life insurance and asset management business, from former owner Legal & General in 2016.
Aegon is working towards integrating the platform with Aegon Retirement Choices (ARC), bringing many of Cofunds' features into ARC.
Charlie Eppinger, chairman of Cofunds, will step down with immediate effect following the completion of the platform's acquisition by L&G.
Cofunds is to hire Suffolk Life's David Hobbs as managing director of operational services in the latest shake-up at the platform.
Verona Smith, Cofunds marketing director, has exited the platform following its takeover by Legal & General, Investment Week understands.
Cofunds CEO Martin Davis is to leave the business following a restructure in the wake of its sale to Legal & General (L&G).
Legal & General said today its recent move to take over fund supermarket Cofunds will lift assets in its savings arm above £100bn to a new record high when the deal completes.
Stephen Mohan, former Cofunds managing director of operational services, has moved to Allfunds Bank to spearhead its growth plans in UK and Ireland.
Cofunds' Stephen Mohan is leaving the business after a seven-year spell, the platform said today.
The Financial Conduct Authority (FCA) is to ban cash rebates paid to consumers from platforms from April next year.
Jupiter said today it intends to use the money raised from the Cofunds sale to pay down debt as it unveiled a near £3bn rise in assets under management.