Standard Life Investments said its high-profile head of equities David Cumming “has chosen to leave … to pursue other interests” — just days after Standard Life announced plans to merge with Aberdeen Asset Management.

“It would be impossible to keep everyone happy when putting together two big organisations … therefore I doubt whether Mr Cumming will be the last departure across Aberdeen and Standard Life,” Paul McGinnis, an analyst at Shore Capital, told the Financial Times.

Stan Pearson, head of European equities, has assumed the role of acting head of equities and Andrew Millington, director of equity research, is now acting head of UK equities.

Pearson has 32 years’ experience in the industry and has been with Standard Life Investments for 10 years.

Millington has 13 years’ experience, nine of them at Standard Life Investments.

Both will continue to manage their respective retail and institutional funds.

Rod Paris, chief investment officer, Standard Life Investments, said: “I wish Stan and Andrew every success in their interim positions — making these internal appointments demonstrates the depth of talent we have within the 73-strong equities team.

“I would also like to thank David for his support and contribution to the business over the many years we have worked together, and wish him the very best.”

more to follow …