Abrdn has appointed a brand new head for its recommendation arm with current CEO Caroline Connellan stepping down after lower than a yr within the function.
Richard Wilson, CEO at Interactive Investor (ii) – which has been acquired by Abrdn for £1.49bn – will tackle an expanded function as CEO of Abrdn’s Private Vector recommendation enterprise.
The Private Vector consists of Monetary Planning, digital retirement recommendation, discretionary wealth and ISA and digital investing.
Ms Connellan joined Abrdn in October 2021 as CEO of the Private Wealth enterprise and is stepping down for private causes. She joined from wealth supervisor Brooks Macdonald Group the place she had been CEO since April 2017.
Abrdn CEO Stephen Fowl stated: “Caroline joined us final yr, and in that point has made an actual distinction to this strategically essential a part of our enterprise. With a relentless concentrate on delivering for our purchasers, she has constructed a robust basis from which we are going to proceed to rework and develop. I wish to thank Caroline for the impression she has had within the Private Vector and for the management she has proven throughout the broader enterprise agenda.
“Beneath our technique, we now have recognized the rising UK wealth market as a key space for funding and growth, and the current acquisition of Interactive Investor demonstrates our dedication and transforms our presence on this market. Since ii grew to become a part of Abrdn, Richard and Caroline have been working collaboratively on areas of shared alternative and development, and we see important alternatives to proceed to develop our capabilities and providers to prospects.
“Richard’s confirmed expertise, consumer focus and management abilities will enable us to ship the expansion synergies the acquisition of ii makes attainable and proceed accelerating the supply of our ambitions. By becoming a member of up our present choices, from hi-tech DIY investing via to hi-touch monetary recommendation, we are able to provide a seamless consumer journey that can meet our objective of enabling our purchasers to be higher traders.
“Caroline leaves with our greatest needs for the longer term and our thanks for her important contribution to the enterprise.”
Mr Wilson will tackle total management of the Private Vector and the corporate can be transferring Monetary Planning, Discretionary and Digital Options below his management following Ms Connellan’s departure.