Staff join former head of equities
Eight leave Standard Life Aberdeen for Aviva’s Scots office
David Cumming: quit SLI
Eight senior staff at Standard Life Aberdeen are switching to Aviva Investors which is opening an Edinburgh office this month.
The departures follow the move to Aviva by the former Standard Life Investments head of equities David Cumming.
Mr Cumming, who resigned from SLI soon after the merger between Standard Life and Aberdeen Asset Management was announced last year, will manage a team of up to 60 in Edinburgh.
Among those joining him are Mikhail Zverev as head of global equities, Alistair Way as head of global emerging market equities, and Henry Flockhart and Adam McInally as UK equity portfolio managers. Stephanie Niven joins from Tesco Pension Investment and will be based in London.
Mr Cumming, chief investment officer, Equities, said: “We are delighted to attract such high-calibre, experienced individuals with strong performance track records to Aviva Investors, and look forward to them joining the team in the coming months.
“These appointments, along with additional hires we plan to make this year, will complete the creation of strong, integrated teams in the key areas of Global, Emerging Markets, Europe, US and UK Equities.”
Aviva Investor’s chief executive Euan Munro is another former Standard Lifer who launched the Global Absolute Return Strategies fund.
He said: “Investing in our equities capabilities is a strategic priority for our business. These hires will enhance our ability to offer compelling equity propositions for wholesale and institutional investors, as well as strengthening idea generation for our broader range of investment solutions.”
An Aberdeen Standard Investments spokesman said: “Inevitably when you integrate two investment teams there will be some departures.
“Following the merger of Aberdeen Asset Management and Standard Life we have created one of the largest and best resourced equities teams in the industry.
“We now have over 150 equity investment professionals on-the-ground around the world. That scale is important because our approach relies on fundamental research, which we think is best carried out by well-resourced teams which are close to the markets in which they are investing.
“We’re grateful for their hard work over the years and are pleased that they have now found new roles in Edinburgh.”