Aviva could announce a restructuring of the company on Thursday

Amid market rumours that Aviva could break up its UK business, it today announced a shake-up in its financial team. 

UK chief financial officer Jason Windsor will step up to replace his group counterpart Tom Stoddard on an interim basis. Stoddard is leaving his role at the end of this month, the company announced. 

Windsor joined Aviva in 2010, and has previously held roles including chief capital and investments officer, and member of the group executive. 

Commenting on Stoddard’s departure, chief executive Maurice Tulloch said: “Tom is a tremendous leader and has played a major role in delivering Aviva’s financial turnaround, significantly strengthening the group’s capital position. After five successful years, he leaves with my best wishes and those of Aviva’s board.”

Tom Stoddard

Outgoing group CFO Tom Stoddard

Stoddard said that: “Whilst I will miss all the friends I have made here, Aviva has a strong finance team, and it is now time for me to clear the way for others to step up, as I consider new opportunities. Aviva is in a strong financial position with a bright future ahead of it.”

The move comes as the Financial Times reported that Tulloch is planning to split up its UK business into two parts - life and non-life.

The report said an announcement would be likely during the company’s annual general meeting on Thursday.