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Standard Life Aberdeen board loses non-exec from Credit Suisse

Board-Room-Meeting-Room-Business-700.pngStandard Life Aberdeen has announced that managing director of Credit Suisse’s asset management arm Gerhard Fusenig will be stepping down from its board at the end of the year.

Fusenig, who sat on both the remuneration committee and the risk and capital committee at Standard Life Aberdeen, will leave on 31 December 2018.

The former UBS global head of fund services took on a non-executive role with Aberdeen Asset Management in 2016 before it merged with Standard Life, but also had a post on its board between 2009 and 2012 to represent Credit Suisse when it was a significant shareholder in the business.

Chairman Gerry Grimstone said: “I would like to thank Gerhard for his service to Standard Life Aberdeen during a period of change and development for the group“.

The latest board shuffle comes amid a number of personnel changes since the merger that formed Standard Life Aberdeen.

Pensions and savings chief executive Barry O’Dwyer, chief finance officer Luke Savage and global client director Colin Clark all stepped down from the Standard Life board at the time ofthe merger, while non-executive director Val Rahmani, deputy chief executive Andrew Laing, group head of investments Hugh Young and group head of risk Rod McRae resigned from the Aberdeen Asset Management board.

As of next year, Standard Life Aberdeen’s board will have four executive directors, eight non-executives and the chairman.

Of the 13 positions, ten will be held by men.

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