A number of global news outlets yesterday and this morning reported on the departure of co-global fixed income head Paul Griffiths from the global parent of Aberdeen Asset Management.

The company has now provided MFWire with the internal personnel update regarding the departure:

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Aberdeen Fixed Income

Personnel Update

March 25, 2013

Paul Griffiths, Global Co-Head of Fixed Income, has decided to leave Aberdeen to pursue an opportunity elsewhere in the industry. Brad Crombie will now assume sole responsibility for the group’s fixed income business as Global Head of Fixed Income.

Brad was appointed Global Co-Head of Fixed Income in October 2012, having undertaken a review of the Group’s investment process in the first half of the year. The review identified best investment practices which under his leadership have been integrated across all teams. Since that time, Brad has been responsible for all investment teams, staffing and budget. Brad will now also assume Paul’s responsibilities, including client relations and product development.

Paul leaves with our best wishes and we would like to thank him for his work since joining Aberdeen as part of the acquisition of various businesses from Credit Suisse in 2009. He leaves behind a £45 billion (€52 billion, US$68 billion as at 28 February 2013) fixed income and money market platform with a strong team ethic, a fundamental approach to investing and a focus on the client.

Further, Aberdeen provided MFWire with the following bio of Brad Crombie, Griffiths' fellow co-head who will now take on complete responsibility for the unit:

Brad Crombie is global co-head of fixed income and global head of high yield for Aberdeen. Brad was hired by Aberdeen as a graduate in 2000 and re-joined the company in February 2012 from Bank of America Merrill Lynch, where he was Head of Corporate Credit and High Yield Research for Europe, the Middle East and Africa (EMEA).

 

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