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Grimstone successor sought

Parry emerges as Standard chair favourite amid further exits

Gerry GrimstoneFirms invited to pitch in finding Sir Gerry Grimstone’s successor

Another fund manager has left Standard Life Aberdeen to join a rival firm as an internal executive emerges as favourite to succeed Sir Gerry Grimstone as chairman.

Imran Ahmad, an investment director and portfolio manager of the emerging market debt unconstrained fund, will join the multi-asset team at Investec Asset Management.

Mr Ahmad was in the emerging market debt specialists team at Standard Life Investments and reported to Richard House who left soon after the merger with Aberdeen Asset Management last summer.

Mr Ahmad will join a 32-strong team at Investec managing both multi-asset growth and income strategies.

Exits from Standard Life have included head of equities David Cummings and most recently fund manager Kevin Troup, Ross Mathison and Jaime Ramos Martin from the global equities team.

The company has invited three executive search firms to pitch for the work to find Sir Gerry’s successor as chairman of Standard Life Aberdeen.

Kevin Parry, the senior non-executive director, is said to be the early favourite and is said to have been omitted from the internal team handling the handover. As senior non-executive director, Mr Parry would normally be part of that group.

Instead, the search is being conducted by deputy chairman Simon Troughton and non-executive director Melanie Gee.

Other potential candidates are said to be Sir Paul Tucker, the former deputy governor of the Bank of England, and Douglas Flint, the former group chairman of HSBC.

Sir Gerry said in February he would stand down by the end of next year. The 68-year-old has been chairman of the investment house for 11 years.


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