Aberdeen Asset Management has appointed star US fund manager Katherine Garrett-Cox as chief investment officer.
The newly created position, which was previously incorporated into chief executive Martin Gilbert's role, follows a rapid expansion within the company, including most recently its takeover of Murray Johnstone.
Garrett-Cox will surrender her role as head of US equities to Rupert Della-Porter, who joined Aberdeen with Garrett-Cox from Hill Samuel Asset Management last September.
But Garrett-Cox will continue to play a lead role in the management of Aber-deen's US funds.
Gilbert says: “Katherine Garrett-Cox's reputation precedes her and the impact that she has already made at Aberdeen is remarkable. In Katherine, we have found a chief investment officer with the investment experience, comm- unication skills and leadership to drive the firm's investment engine forward to meet and exceed our clients' expectations.”
Garrett-Cox says: “In my view, the role of CIO is evolving rapidly from the traditional angle of being a central controller to being an overseer, a developer and a sounding board. The depth and spread of expertise at Aberdeen presents fascinating challenges.”