Scottish asset manager Aberdeen, which is in the middle of a takeover by Standard Life, has introduced a new Chief Operating Officer for its Asia-Pacific business.
In a statement to finews.asia an Aberdeen spokesperson confirmed that Vance Duigan joined Aberdeen Asset Management on 3 April 2017 as Chief Operating Officer (COO) Asia Pacific, reporting to Ian Macdonald, Deputy Head of Asia Pacific, based in Aberdeen's Singapore office.
Before joining Aberdeen, Duigan held various positions at Goldman Sachs Asset Management, including Director of Investment Management Operations in Hong Kong and Chief Administrative Officer in Japan, then in Korea and finally for Asia Pacific, based in Singapore.
Smooth Transition
In January Andrew Narracott, the former COO Asia Pacific for Aberdeen, intimated his desire to retire from the industry, after ten years with the asset manager. Narracot is currently helping to oversee a smooth transition as a Director of Aberdeen Asset Management Asia, but will retire before the end of 2017.
Last month Martin Gilbert, the Co-Founder and Chief Executive of Aberdeen Asset Management wrote an essay for finews.asia.
Head in the Sand
Among the highlights Gilbert said that any asset manager which denies that it faces challenges has its head in the sand. The industry is polarising with boutiques at one end and large multi-service providers at the other, he added.
Aberdeen is in the middle of a 3.8 billion pounds sterling takeover by Standard Life.
