and Andrew Smith
will be the new co-heads of Aberdeen Asset Management
], Aberdeen's global CEO revealed today during a press conference.
They will both take the places of David Steyn
, who stepped down in May after five months in the role
He took the place of Gary Marshall
who left the position in December 2013
. He was named chief executive of Aberdeen’s recent acquisition, the $230 billion Scottish Widows Investment Partnership
Under his helm, Aberdeen's Americas arm grew from $40 billion to $78 billion AUM.
According to a statement from Aberdeen, Smith and Hendry will split the duties of leading Aberdeen's Americas business. Both will be based in Philadelphia and report directly to chief executive Martin Gilbert
Hendry returns to Aberdeen from Hansberger Global Investors
in Fort Lauderdale, Florida, where he has worked for six years as chief operating officer. Hendry had established Aberdeen’s business in the Americas in Fort Lauderdale, moving from his home city of Aberdeen, Scotland, in 1995. He had first joined Aberdeen in 1987.
He left Aberdeen in 2008, when the company moved to consolidate its headquarters in Philadelphia, choosing to remain in Fort Lauderdale with his family. Now that his kids are grown, he will return to Aberdeen to serve as co-head of Americas and chief financial officer for Aberdeen’s business operations in the Americas.
Smith, meanwhile, has been acting deputy to Marshall during Marshall’s tenure as Head of Americas, and chief financial officer and chief operating officer for Aberdeen’s Americas business. Aberdeen is now splitting the roles after experiencing rapid AUM growth. Smith will serve as co-head of Americas and chief operating officer for Aberdeen’s Americas business.
He joined Aberdeen in 2000 via the acquisition of Murray Johnstone
, a Glasgow-based fund manager, where he served as a senior executive in that firm’s U.S.business. Originally from Glasgow, Scotland, Andrew has been living in the United States for 16 years. He spent four of those in Fort Lauderdale where he and Hendry previously worked together.
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