Abrdn has appointed Xavier Meyer as CEO of investments, while Rene Buehlmann (pictured) leaves the company.
The change follows Jason Windsor’s appointment as group CEO in September, and £3.1bn in net outflows announced in arbdn’s Q3 results this October. The results caused shares in the company to drop 19.5% in the past month to 19 November.
Abrdn has also created a group operating committee compromised of the CEO, COO, CFO and the business unit CEOs, aimed at speeding up decision making. The executive leadership team has been revamped to include the investments CEO as well as senior client and product positions, with a focus on strategy execution, the risk environment, and then “talent and culture agenda”.
“These changes are about having the right people in the right roles, sharpening our focus on clients, and strengthening our Investments business,” Windsor said.
“By working together, the new leadership team will drive profitable long-term growth that will benefit our shareholders, our clients and our colleagues.”
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Meyer takes on the CEO investments role after two years as abrdn’s chief client officer. He brings near 25 years of experience to the role, including positions at Eastspring Investments and BNP Paribas. Richard Wilson will also join as group chief operating officer, taking over from David Scott as he retires.
“Xavier Meyer’s and Richard Wilson’s new responsibilities recognise the strength of their contributions to the organisation thus far, and the changes we are making are a clear indication of the breadth and depth of talent we have in the group. I would also like to thank Rene Buehlmann and David Scott for their considerable contributions to abrdn and to wish them well for the future,” Windsor said.
This story was written by our sister title, Portfolio Adviser
