And also this week …

SFO clears AIG unit

The Serious Fraud Office has dropped an investigation into the UK operations of AIG Financial Products. British investigators found “insufficient evidence to bring a prosecution” during a 15-month inquiry into potential “criminal conduct”.

Moreau joins Group board

Nicolas Moreau has been promoted to AXA’s management board. Following our report last week on speculation that Moreau would step down as group chief executive of UK and Ireland, AXA UK spokesman Stephen Hoffman Womersley said this was not the case. “Nicolas Moreau’s contribution to the company was recognised last month by promoting him to AXA Group’s management board. However, he remains in his role as UK group chief executive and continues to drive our overall growth strategy.”