AssetCo, chaired by former Standard Life Aberdeen joint chief executive Martin Gilbert, has appointed a former SLA director to the firm as it eyes expansion into EMEA markets.
Lucy Draper will be joining the business as director of distribution, reporting to head of distribution Gary Collins.
Draper was previously director of business development in Middle East, Africa at Standard Life Aberdeen, now Abrdn.
She was based in Abu Dhabi engaging with a mix of financial institutions in the region.
Prior to this, she was a senior business development manager working with UK wholesale clients, including global banks, platforms, discretionary firms and insurers.
Earlier in her career she worked in Asia leading the sales strategy with private banks in Hong Kong and joined Aberdeen Asset Management in 2007 as a graduate trainee.
Collins said the firm was looking to expand into EMEA markets.
He said: “Lucy is a fantastic addition to the AssetCo team. Her experience and knowledge both from a client channel and regional perspective will be invaluable as we look to develop and grow the Rize and Saracen businesses.
“There is increasing appetite for thematic ETFs across Europe, in the Middle East and Asia as these regions mirror the growth already being seen in the US.
"Saracen’s core strategies are delivering for investors in the UK, but we are focused on broadening the client base and over time the product offering.”
Last month, AssetCo announced it had acquired a 30 per cent equity stake in Parmenion Capital Partners, as the sale of the platform completed.
The purchase of its stake followed an update by the firm earlier that week that it was planning to make further acquisitions having collected £30.9m to fund its asset and wealth management strategy.
The firm had appointed Gilbert as chairman in March as the business planned to pursue a new strategy of acquisitions.
In May, it acquired Edinburgh-based Saracen Fund Managers for £2.75m.
Draper said: “I’m joining AssetCo at such an exciting time for the business as the team implements their strategy of investing in and building asset and wealth management businesses.
“I’m looking forward to working with some familiar and new faces but also meeting with existing clients and prospective investors to see how our suite of investment capabilities can help them achieve their financial goals.”
sonia.rach@ft.com
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