Abrdn investment co-CEO departs after review
Revolving doors: another senior figure has left Abrdn (pic: Terry Murden)
Chris Demetriou, co-CEO of abrdn’s investments business, has resigned following a review of the business.
He said it was time”to seek a new challenge” after nearly a decade at the Edinburgh-based asset manager. He became co-CEO covering the UK, EMEA and the Americas in 2021. He is the latest in a number of senior personnel changes which last week saw three former Abrdn staff join M&G
An abrdn spokesperson said that over the past two years, the firm had “been making important changes to reshape our investments business for the future”.
She added: “With the business now re-positioned, and with a clear strategy in place, Chris Demetriou has decided the time is right to step aside as co-CEO of the business.
René Buehlmann, who is Demetriou’s fellow co-CEO and head of Asia Pacific for the investment arm, will become sole CEO.
He will be supported by new CIO Peter Branner, who abrdn stated would be focusing “on accelerating growth across the business”.
Mr Buehlmann said: “The work of the last two years has been critical in repositioning our business and I am proud how far we have come.”
Mr Demetriou added: “Under René’s leadership, the IV business is in brilliant hands, and I wish you all well for the future. You will have no greater supporter or advocate on the outside than me.”
Abrdn is splitting its real assets business into real estate and infrastructure units as part of its overhaul.
Anne Breen, deputy head of real assets, will become head of real estate at the firm. She joined the company in 1999 as head of investment research and strategy for real estate. In her new role, she will report to CIO Peter Branner.
She will succeed Neil Slater, global head of real assets, who is leaving the company after 12 years to take on the role of CEO at European real estate specialist firm Redevco.