Aviva’s new M&A chief is given a dual remit

Aviva has swapped one ex-Morgan Stanley banker for another as head of its mergers and acquisitions division. The insurer has hired Jason Windsor as group strategy director, essentially replacing Clifford Abrahams, who left his post as chief M&A officer to become finance director of the group’s UK general insurance division in March.

However, Windsor’s remit is wider than that of Abrahams’: as group strategy director, he will take charge of the M&A and strategy teams. He reports to Aviva’s chief financial officer, Pat Regan.

Windsor is currently managing director of Morgan Stanley’s financial institutions group, with specific responsibility for UK insurance, which includes advising Aviva. Before joining Aviva in October 2005, Abrahams held a similar role at the bank as managing director of investment banking, specialising in financial services.

Abrahams replaced Mark Dearsley, who left to become finance director of Aviva Life International. Abrahams was named finance director of UK general insurance as part of the last year’s overhaul that saw Mark Hodges replace Igal Mayer as Aviva’s UK chief executive and David McMillan take over as chief executive of UK general insurance.

Aviva denied that Windsor’s dual remit meant it would be more acquisitive. It said: “It is not a statement from the company about either strategy or M&A in terms of our intentions.”