By Ian McConnell

Rod Paris is to retire as chief investment officer of abrdn at the end of this year, the fund management giant has announced.

Mr Paris has been with the group, which rebranded recently from Standard Life Aberdeen, since 2002.

Stephen Bird, chief executive of Edinburgh-based abrdn, said of Mr Paris: “I will personally miss his wisdom, support and his fierce intelligence. He leaves a fantastic legacy for us to continue to build on.”

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abrdn, as it announced Mr Paris’s departure yesterday, also outlined a structure for its investment management team “organised around pillars of strategic importance for clients – public markets, real assets, solutions and central investments – reporting directly to Stephen Bird”.

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It said, in public markets, Devan Kaloo and Craig Macdonald would continue to lead their respective asset classes as global head of equities and global head of fixed income. Mr Kaloo has been appointed as global head of public markets, with Mr Macdonald as deputy head. Neil Slater will be global head of real assets, leading abrdn’s “real estate and infrastructure capabilities”.

Robert McKillop will continue to lead the global product and solutions business.

Archie Struthers will continue to lead the central investments teams. He will have overall responsibility for investment oversight.

Mr Bird said: "When Rod and I first spoke about his plans several months ago, our priority was to ensure continuity and clarity to clients – while also putting in place a structure that empowers the talented team we have at abrdn, and the significant expertise and experience they have in delivering for our clients.

“Investment management is at the heart of what we do and I believe that this evolution to our structure will allow us to better align with the evolving needs of our clients, and the pace and scale of change across the industry. It’s indicative of the confident, futurist business that our new brand abrdn represents.”

He added: “Rod has worked in financial services for 40 years and been with the company since 2002.. He has made an enormous contribution to the company over that time and we thank him wholeheartedly for the value he has created."