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Rating:Esposito Plots His Post-Aberdeen Plans Not Rated 3.0 Email Routing List Email & Route  Print Print
Friday, July 31, 2009

Esposito Plots His Post-Aberdeen Plans

Reported by Armie Margaret Lee

Two years after joining Aberdeen Asset Management as the top executive of its US mutual fund business, Vincent Esposito has left the firm, The MFWire has learned. Esposito is set to join NPI Capital, which focuses on acquisitions of small investment management firms, in September.

Vincent Esposito

He left Aberdeen on June 30.

"His role was absorbed internally," Aberdeen spokeswoman Katie Cowley told The MFWire.

His responsibilities at Aberdeen have been assumed by Gary Marshall, president of Aberdeen Funds (the open-end fund business), Christian Pittard, president of Aberdeen's closed-end funds and Nigel Storer, head of the financial institutions group - North America.

"Aberdeen is a very dynamic company, and it has excellent leadership," Esposito told The MFWire when reached for comment Friday afternoon.

"Ultimately, it's going to be one of the long-term global survivors in the money management business," he said.

He joined Aberdeen in August 2007 and led the purchase of Nationwide's active equity investment management business. That deal closed July 1 of last year.

Before joining Aberdeen, Esposito was president of DWS Scudder Mutual Funds and previously spent a decade at Putnam Investments. Earlier, in his career, he worked at Dean Witter.

Aberdeen reportedly was one of the bidders for Lincoln Financial's Delaware Investments. Aberdeen Asset Management CEO Martin Gilbert, however, was quoted as saying on Monday that Aberdeen was "definitely not pursuing" a deal to buy Delaware. 

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