Four senior members of Scottish Widows Investment Partnership will leave following the acquisition by Aberdeen Asset Management.
Swip chief executive Dean Buckley, global equity director Will Low, fixed income director Mark Connolly and real estate director Lynda Shillaw are to leave the company. The firm was acquired by Aberdeen last month in a deal worth £550m.
Aberdeen chief executive Martin Gilbert says: “Dean, Lynda, Mark and Will all made significant contributions to the Swip business and helped ensure it was in the best possible shape as the acquisition completed. I thank them for their professionalism throughout this process and wish them all the very best for the future.”
Aberdeen has also unveiled a number of changes to its investment division following the Swip acquisition.
Its alternatives business, previously part of Aberdeen Solutions, will become a standalone unit. Andrew McCaffery will continue to lead the business as head of alternatives, with responsibility for all alternatives globally including hedge funds, private equity, infrastructure and property multi-manager.
Swip managing director of investment solutions Archie Struthers will now lead Aberdeen Solutions, an independent open-architecture business.
A new quantitative investments unit has been formed to focus on market cap passive equity portfolios, led by Swip director of quantitative investments Sean Phayre.