Aegon has created a new MD role to oversee 167 staff as part of a shake up following the deal to buy Cofunds.

The managing director of retail job has been established to take responsibility for leading the distribution functions for both Cofunds & IPS and Aegon UK.

Andy Coleman is taking the role and will manage a combined sales team of 167. The company said this made it one of the largest sales forces in the industry with 99 in the field and 68 on the phone.

The scale of the sales teams will enable Aegon to better service advisers, it said in a statement, adding this was one of the ways in which the firm intends to “leverage its scale in the platform market to set itself apart from the competition”.

Mr Coleman said: “As we head into the beginning of 2017 the completion of the acquisition marks a new era for both Cofunds and Aegon’s platform businesses. Although we’ll face challenges, our combined platform strength and new technology will offer our clients new capabilities underpinned by an efficient first class service. With the largest dedicated distribution reach the adviser community has seen, we’re looking forward to offering our users a fully-fledged platform.”

Mr Coleman joined Cofunds in 2012 from AXA Wealth and was most recently commercial director. He will report to Aegon’s chief distribution and marketing officer Mark Till.

Mr Till said: “As a business we’re acutely aware that the way we’re structured must be in tune with the needs of the advisers we’re serving.

“Andy’s appointment brings a great deal of experience and, more importantly, continuity. We have in place an excellent team with enormous experience completely focused on helping intermediaries grow their business and their profitability.”