Edinburgh-based asset management giant abrdn on Wednesday outlined a new structure for its investment management team amid the decision by Rod Paris to retire as chief investment officer at the end of 2021.

Abrdn said its investment team will now be organised around “pillars of strategic importance for clients – public markets, real assets, solutions and central investments” reporting directly to CEO Stephen Bird.

abrdn manages and administers about £535 billion of assets worldwide. The Edinburgh firm has has offices in over 50 locations worldwide and employs around 6,000 people.

In public markets, Devan Kaloo and Craig Macdonald will continue to lead their respective asset classes as global head of equities and global head of fixed income respectively.

Kaloo has been appointed as global head of public markets and Macdonald as deputy head.  

In “real assets” Abrdn said it has created a “real assets franchise” led by Neil Slater as global head of real assets.

Slater will lead the real estate and infrastructure capabilities. 

In “solutions” Robert McKillop will continue to lead abrdn’s global product and solutions business.

He will now be directly supported in this by Aymeric Forest who is responsible for “driving investment outcomes across multi-asset & solutions.”

In “central investments” abrdn said Archie Struthers will continue to lead the central investments teams “with overall responsibility for investment oversight and first line investment governance framework, as well as investment execution and our investment platform.”

Struthers will also continue to lead on responsible investing and stewardship activity.

abrdn CEO Stephen Bird said: “When Rod and I first spoke about his plans several months ago, our priority was to ensure continuity and clarity to clients – while also putting in place a structure that empowers the talented team we have at abrdn, and the significant expertise and experience they have in delivering for our clients.

“Investment management is at the heart of what we do and I believe that this evolution to our structure will allow us to better align with the evolving needs of our clients, and the pace and scale of change across the industry.

“It’s indicative of the confident, futurist business that our new brand abrdn represents.

“Rod has worked in financial services for 40 years and been with the company since 2002.

“He has made an enormous contribution to the company over that time and we thank him wholeheartedly for the value he has created.

“I will personally miss his wisdom, support and his fierce intelligence. He leaves a fantastic legacy for us to continue to build on.”