Abrdn makes move to replace Connellan
Abrdn has appointed Interactive Investor chief executive Richard Wilson as chief executive of personal wealth following the departure of recently-hired Caroline Connellan.
Ms Connellan was a high profile hire when she joined in October last year from Brooks Macdonald where she had been chief executive since 2017.
At Abrdn she reported directly to CEO Stephen Bird as a member of the executive leadership team.
Previously, she 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.
Abrdn announced yesterday that she will step down from her role at the end of August for personal reasons. No further details were disclosed.
Mr 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.”
Abrdn will be moving financial planning, discretionary and digital solutions under the remit of Mr Wilson who joined abrdn in May following its acquisition of interactive investor.
He joined the ii board as a non-executive director in 2015, before taking over as chief executive in March 2017. Under his leadership the company grew significantly, becoming the UK’s largest flat-fee investment platform through a series of successful acquisitions and organic growth.
Mr 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.”
He said that since Interactive Investor became part of Abrdn, Mr Wilson and Ms Connellan have been working collaboratively on “areas of shared opportunity and growth”.
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.”