Begbie will take the reins as Aegon UK HR director in August, aiming to kick-start the transformation started in 2005 by predecessor Ian Tomlinson-Roe, who left in March to join PricewaterhouseCoopers (PwC).
The project was designed to align HR strategy with business objectives, which have included putting additional resources into developing the management and leadership capability within the organisation.
It also aims to develop Aegon's recruitment strategy to make it an employer of choice in the financial services sector.
Begbie was responsible for implementing a three-year people strategy as HR director at Scottish Power, following five years heading other personnel teams at the energy company.
Aegon UK chief executive Otto Thoresen said his objective for the organisation was to bring about a customer focus and cultural change through the HR strategy.
Thoresen said: "Sandy is recognised as a leader in his field, and his experience of managing change and of talent management will be particularly valuable to Aegon in the months and years ahead."