Edinburgh-based fund management giant Aberdeen Standard Investments announced the promotion of Andrew Paisley to Head of Smaller Companies amid a number of changes ahead of the launch of its new mid cap strategy.
Paisley, currently Deputy Head of Smaller Companies, succeeds Harry Nimmo.
After 27 years as Head of Smaller Companies, Nimmo will now focus on managing the ASI UK Smaller Companies Fund, Standard Life UK Smaller Companies Trust plc and other UK smaller company portfolios.
He will also be heavily involved in the upcoming launch of Aberdeen Standard’s Global Mid Cap strategy which he will manage alongside Anjli Shah.
Aberdeen Standard Investments is the asset management business of Standard Life Aberdeen plc and it manages assets of around £530 billion.
Abby Glennie has been appointed Deputy Head of Smaller Companies.
“During the next quarter, the smaller companies team will launch a new innovative Global Mid Cap strategy,” said Aberdeen Standard.
“Harry and Anjli will be co-managers of a concentrated portfolio of high quality mid cap firms with growth and momentum characteristics.
“As with all portfolios managed by the team, stock specific risk will the primary driver of portfolio returns and incorporate the team’s highly successful matrix screening process.
“The Global Mid Cap strategy will be able to leverage the team’s insights, including detailed information on strong-performing small cap stocks that have graduated to mid cap status.”
Separately, Kirsty Desson has been appointed co-manager with Alan Rowsell of the Global Smaller Companies OEIC & SICAV.
Nimmo said: “After over a quarter of a century in this role, it is the right time to hand the baton to Andrew who will do a fantastic job alongside Abby.
“I’m looking forward to focusing on my UK smaller companies portfolios and working with Anjli on the new global mid cap strategy.
“The strategy is ideally placed and will be able to leverage the team’s insights, including detailed information on strong-performing small cap stocks that have graduated to mid cap status.”
Devan Kaloo, Global Head of Equities at Aberdeen Standard Investments, said: “Andrew is the natural choice to succeed Harry.
“As deputy head of the team Andrew, alongside Harry, has played an important part in developing and growing our smaller companies business.
“Harry has an outstanding long-term track record as a smaller companies fund manager and I fully understand his desire to step away from the responsibilities of being head of the desk.
“Importantly he will continue to play a key role in supporting Andrew and Abby, in particular helping to provide oversight of the investment process that he established over 22 years ago.”
Paisley said: “I’m delighted to succeed Harry as Head of Smaller Companies.
“The experience and expertise of the team and the strength of investment process reflected by the outperformance of our UK, European and Global smaller companies strategies means we are well placed to continue to deliver for our clients and investors.
“I’m looking forward to working with Abby to build on our existing strong foundations whilst ensuring we remain focused on delivering for our clients and investors.”