Abrdn has appointed Interactive Investor chief executive officer Richard Wilson as its advice boss, taking over from Caroline Connellan.
Connellan joined Abrdn in May last year as chief executive of personal wealth.
She reported directly to CEO Stephen Bird as a member of the executive leadership team and joined from wealth manager Brooks Macdonald, where she led the business since 2017.
Prior to this, Connellan held senior roles at HSBC, including head of UK premier and wealth, and has consulting experience across the asset management and wealth sector with McKinsey.
Her earlier career included roles with Standard Life and as a private client fund manager with Newton Investment Management.
In an announcement today (July 28), Abrdn said Connelan will step down from her role at the end of August due to personal reasons.
Bird said: “Caroline joined us last year, and in that time has made a real difference to this strategically important part of our business. With a relentless focus on delivering for our clients, she has built a strong foundation from which we will continue to transform and grow.
“I want to thank Caroline for the impact she has had in the personal vector and for the leadership she has shown across the wider business agenda.”
Wilson will be assuming overall leadership of the personal division and Abrdn will be moving financial planning, discretionary and digital solutions under his leadership following Connellan’s departure.
Bird said: “Under our strategy, we have identified the growing UK wealth market as a key area for investment and expansion, and the recent acquisition of interactive investor demonstrates our commitment and transforms our presence in this market.
“Since II became part of Abrdn, Richard and Caroline have been working collaboratively on areas of shared opportunity and growth, and we see significant opportunities to continue to expand our capabilities and services to customers.”
He added: “By joining up our current offerings, from hi-tech DIY investing through to hi-touch financial advice, we can offer a seamless client journey that will meet our purpose of enabling our clients to be better investors.
“Caroline leaves with our best wishes for the future and our thanks for her significant contribution to the business.”
sonia.rach@ft.com
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