By Scott Wright

FUND management giant Aberdeen Standard Investments (ASI) has unveiled a new head of global equities.

Dominic Byrne, former deputy global head of equities, has taken over from Stephen Docherty, who has stepped down for personal reasons.

Mr Docherty is leaving ASI, which is the investment arm of Edinburgh-based Standard Life Aberdeen, after 25 years with the company.

ASI’s 17-strong global equity team manages £8.9 billion of assets from offices in Edinburgh, London, New York, and Singapore.

Devan Kaloo, global head of equities at ASI, said: “Stephen and Dominic have worked together since 2017 to lead our global equity team and evolve and enhance our investment process.

“Under Dominic’s leadership we believe the team is well placed to build on its already strong foundations and continue to deliver for our clients.”

He added: “I am sad to see Stephen step down, but completely understand why he made this decision and fully support him. He has made a considerable contribution to the company, our people and clients over the last 25 years.

“Stephen will leave with our heartfelt thanks and very best wishes for the future.”

Mr Byrne said: “I’m delighted to succeed Stephen as head of global equities. As a team we are focused on continuing to support our existing, successful strategies, enhancing our processes, and establishing new capabilities, including responsible and thematic strategies. This plan is already bearing fruit with a sustained improvement in performance across many strategies.”

Mr Docherty said: “Having spent 25 years working for the same company and with many fantastic people it was a difficult decision to make, but it is the right one for me and my family.

“I leave with the global equity team in good hands with Dominic at the helm to take it forward.”

The change at ASI, which manages £525.7bn of assets, comes after Standard Life Aberdeen was appointed to manage a fund formerly run by controversial asset manager Neil Woodford in December.