Abrdn appoints global investment CEO
Abrdn Investments has hired a new global chief executive as Rene Buehlmann steps down after less than two years, and it also announced a new senior leadership structure.
This has seen the firm create a new group operating committee that consists of the group CEO, chief operating officer, chief financial officer and business unit CEOs.
The Investments’ chief investment officer and senior client and product staff will also join abrdn’s executive leadership team.
The new structure will “simplify decision-making and accelerate progress against its strategic priorities of transforming performance, improving the client experience and strengthening talent and culture”, the firm said.
In light of the new structure, Rene Buehlmann, who became global CEO for investment in May 2023, will be stepping down and be replaced by Xavier Meyer, who is currently the chief executive for UK and EMEA and chief client officer. Prior to joining abrdn in 2022, he spent eight years in Singapore with Eastspring Investments.
The firm said Meyer will bring a deep understanding of its clients’ focus areas and perspectives.
Secondly, Richard Wilson has been appointed as group chief operating officer, as well as retaining his role as chief executive of online investment platform interactive investor, which was acquired by abrdn in 2022.
In the new role, he will take overall responsibility for the firm’s technology capability, IT and operations and current chief technology officer, David Scott, will retire from the role.
Jason Windsor, group CEO, said: “These changes are about having the right people in the right roles, sharpening our focus on clients, and strengthening our investments business. By working together, the new leadership team will drive profitable long-term growth that will benefit our shareholders, our clients and our colleagues.”
Windsor took over as group CEO in September, having previously worked as the chief financial officer and interim group CEO after the departure of Stephen Bird.
Last year, the firm announced it was moving to a distribution partnership in Australia with SG Hiscock as its wholesale distribution partner, as well as moving management of its Australian equities funds to the company. This led to several departures, including managing director of Australia Brett Jollie and portfolio managers Michelle Lopez and Natalie Tam.
“The decision to refocus the local abrdn business is in response to the increasingly competitive nature of the Australian market and the need for greater local scale to be successful in delivering the best outcomes for Australian clients.”
AUTHOR
Laura Dew
Recommended for you
A hiring spree is expected in private markets with 90 per cent of firms expecting to maintain or increase their headcount over the next 12 months, according to Preqin.
Having received bids from Bell Financial Group and AxiCorp, trading platform Selfwealth has confirmed it has entered into a scheme implementation deed after both parties were invited to make a higher bid.
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Ausbil has expanded its distribution team with the hire of a manager for investment research and consulting, following the exit of its head of wholesale distribution in July.
