Friday, July 29, 2022
HomeFinancial PlanningNew head for Abrdn recommendation arm in shake-up

New head for Abrdn recommendation arm in shake-up

Abrdn has appointed a brand new head for its recommendation arm with current CEO Caroline Connellan stepping down after lower than a 12 months within the position.

Richard Wilson, CEO at Interactive Investor (ii) – which has been acquired by Abrdn for £1.49bn – will tackle an expanded position as CEO of Abrdn’s Private Vector recommendation enterprise.

The Private Vector contains Monetary Planning, digital retirement recommendation, discretionary wealth and ISA and digital investing.

Ms Connellan joined Abrdn in October 2021 as CEO of the Private Wealth enterprise and is stepping down for private causes. She joined from wealth supervisor Brooks Macdonald Group the place she had been CEO since April 2017.

Abrdn CEO Stephen Chook stated: “Caroline joined us final 12 months, and in that point has made an actual distinction to this strategically vital a part of our enterprise.  With a relentless give attention to delivering for our shoppers, she has constructed a powerful basis from which we are going to proceed to rework and develop. I need to thank Caroline for the influence she has had within the Private Vector and for the management she has proven throughout the broader enterprise agenda.

“Below our technique, now we have recognized the rising UK wealth market as a key space for funding and growth, and the current acquisition of Interactive Investor demonstrates our dedication and transforms our presence on this market. Since ii turned a part of Abrdn, Richard and Caroline have been working collaboratively on areas of shared alternative and progress, and we see vital alternatives to proceed to develop our capabilities and companies to prospects. 

“Richard’s confirmed expertise, shopper focus and management abilities will permit us to ship the expansion synergies the acquisition of ii makes potential and proceed accelerating the supply of our ambitions. By becoming a member of up our present choices, from hi-tech DIY investing by way of to hi-touch monetary recommendation, we are able to provide a seamless shopper journey that can meet our function of enabling our shoppers to be higher buyers.

“Caroline leaves with our greatest needs for the longer term and our thanks for her vital contribution to the enterprise.”

Mr Wilson will tackle total management of the Private Vector and the corporate might be transferring Monetary Planning, Discretionary and Digital Options beneath his management following Ms Connellan’s departure. 



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