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Aberdeen property head quits after Goodwin deal

Aberdeen head of property asset management in the UK Glenn Newson has left the firm after just over a year.

Newson joined as part of a an investment management team of seven from Credit Suisse Asset Management.

Newson is understood to be on a sabbatical after Aberdeen Asset Management buying Goodman Property Investors for £89m on Friday.

Aberdeen, through wholly-owned subsidiary Aderdeen Property Investors Holding, will also pay £8.4m which is linked to the firm assets on completion of the deal at the close of business last Friday, with a further £12.5m dependent on asset flows in the next 12 months.

The deal brings Aberdeen Property Investors’ assets under management to £24bn.

An Aberdeen spokesman confirms Newson’s departure and says it is on amicable terms.

He says: “The acquisition of Goodwin sees a significant rise in our assets under management, making us a top 10 global player in terms of assets under management. The deal also brings in a team from Goodwin significantly raising our capabilities.”

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