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Columbia Threadneedle boss Fleming to join Aberdeen

Columbia Threadneedle boss Fleming to join Aberdeen

Columbia Threadneedle’s Campbell Fleming is to join Aberdeen Asset Management as global head of distribution, strengthening the firm’s board following a pair of high-profile departures.

Mr Fleming, who has been chief executive - Emea at Columbia Threadneedle since the company’s rebranding in 2015, succeeds John Brett in the role at Aberdeen.

Mr Brett stepped back into a non-executive position last October, and longstanding CIO Anne Richards left in the first quarter to head M&G as emerging market-focused Aberdeen reeled from £38bn in net outflows last year.

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Overseeing a global distribution base of 450 people, Mr Fleming will report to Aberdeen boss Martin Gilbert. He is likely to be considered a contender for the top job should the chief executive of 34 years opt to step back.

Aberdeen said Mr Fleming will also “work closely with the senior management of all Aberdeen’s investment capabilities.”

Jason Hollands, managing director at Tilney Bestinvest, said the hire “should be taken as a sign of serious intent” after a tough period for both flows and performance at Aberdeen, which now has £290bn in assets under management.

Mr Fleming joined Threadneedle in 2009 as head of distribution, becoming chief executive of the then-£84bn business in 2013.

Last year he took on a new title as the group joined forces with sister company Columbia Management to create a £320bn asset manager.

Columbia Threadneedle chief executive Ted Truscott said: “[Mr Fleming] made many contributions during his six years with the organisation, including expanding our distribution capability and further strengthening our position in the marketplace. As a member of the leadership team, he helped to establish our global business.

“We wish [Mr Fleming] every success in the future. We have a strong and experienced leadership team in place and we remain focused on delivering successful investment outcomes and solutions for our clients.”