November 13, 2017 / 8:13 AM / a year ago

BRIEF- Axa simplifies operating model to accelerate transformation

Nov 13 (Reuters) - ‍Axa Group says in a statement:

* Simplifies its operating model to accelerate its transformation​

* Axa group to operate closer to its clients, with 5 key geographies ( France, Europe, the US, Asia, and International) and a refocused corporate center.

* Key transversal entities will be managed alongside these 5 geographies, including AXA Investment Managers, AXA’s core, fully-owned asset management unit, and AXA Corporate Solutions, AXA’s large insurance risks business.

* The CEOs of AXA Investment Managers and AXA Corporate Solutions will report to AXA’s Group CEO.

* As part of this simplification effort, in Europe, direct and traditional entities will report to the country CEO to accelerate the synergies between direct and traditional business.

* AXA expects the new operating model to be effective in the first quarter of 2018. Source text for Eikon: Further company coverage: (Reporting By Dominique Vidalon)

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