Let's all tip a dram of single malt in honor of an engaging Scotsman.
, head of Americas for Aberdeen Asset Management
, is returning to England.
Marshall, who had served four years as CEO of the firm's American operations, was instrumental in his firm's acquisition
of in this MFWire story
. He also outlined his firm's ambitions for the U.S. in this story
In a statement, Aberdeen global chief executive Martin Gilbert
said "The Americas business has matured and flourished under Gary's able leadership. I am pleased that we have found a successor of David's caliber to ensure that we continue to meet the needs of our existing clients, which will allow us to develop further in this strategically important market."
Marshall's successor will be David Steyn
, a 12-year veteran, and former chief operating officer, of AllianceBernstein
who left the firm in 2011
Steyn had joined AllianceBernstein in 1999 as the founding co-chief executive officer of the firm's London office. Before that, he had served as the head of distribution.
Here is the press release:
Company Press Release
Aberdeen Asset Management Names David Steyn as Head of Americas
PHILADELPHIA, Dec. 17, 2013 -- Aberdeen Asset Management ("Aberdeen") today announced that, after four successful years of running and developing Aberdeen's business in the Americas, Gary Marshall will return to the United Kingdom, where he will continue to play a key role in the development of the business of the Group. David Steyn will joinAberdeen in January as Head of Americas to lead the business on to the next level.
Martin Gilbert, Chief Executive of Aberdeen, said:
"The Americas business has matured and flourished under Gary's able leadership. I am pleased that we have found a successor of David's caliber to ensure that we continue to meet the needs of our existing clients, which will allow us to develop further in this strategically important market."
David has more than 30 years of experience in the investment industry, based in both the UK and U.S. He served as Global Head of Distribution at AllianceBernstein Holding L.P., which he joined in 1999, from April 2007, and served as its Chief Operating Officer from July 31, 2009 to 2012. He ran both fixed income and equity investment teams in the UK and the U.S. with organizations like Quaestor (from 1989 to 1999), Lazard (from 1986 to 1989) and Montagu (from 1979 to 1986). He spent his formative years as a Fixed Income Portfolio Manager at Montagu. David is the author of "Market Neutral: Engineering Return and Risk," which was published in 1998 by the C.F.A. Institute and has been part of the C.F.A. syllabus ever since. He earned a law degree from the University of Aberdeen in 1979.
Over the next few months, Gary will transfer his current responsibilities to David to ensure a smooth transition.
About Aberdeen Asset Management:
Aberdeen is an independent asset management group. Formed out of a management buy-out in Aberdeen, Scotland, in 1983, we are now a FTSE 100 company operating on-the-ground in over 23 countries across Europe, Asia and the Americas.
We are defined by our pure focus on asset management, including equities, fixed income, property and multi-asset portfolios. All our investment solutions are driven by our commitment to straightforward, transparent investment approaches that stress intensive, first-hand research and a long-term view.
As of September 30, 2013, we managed assets of $324.6 billion on behalf of institutional and private investors. www.aberdeen-asset.us.
In the United Sates, Aberdeen Asset Management (AAM) is the marketing name for the following affiliated, registered investment advisers: Aberdeen Asset Management Inc., Aberdeen Asset Managers Ltd, Aberdeen Asset Management Ltd and Aberdeen Asset Management Asia Ltd, each of which is wholly owned by Aberdeen Asset Management PLC. "Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.
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