Aviva Investors said on Monday that Euan Munro is to step down as its CEO after seven years and “will take up a role outside of Aviva.”

Munro is a former Standard Life Investments executive.

Munro will be succeeded as Aviva Investors CEO by Mark Versey.

Versey is currently chief investments officer, real assets, at Aviva Investors.

He will join Aviva’s group executive committee, reporting to Aviva Group CEO Amanda Blanc, and will assume his new role with immediate effect.

Aviva Investors is the international asset management business of Aviva plc and had assets under management of £355 billion at end of June 2020.

Blanc said: “I would like to thank Euan Munro for his leadership of Aviva Investors over the past seven years.

“He leaves with our best wishes for the next stage of his career.”