Abrdn announced it has created a single, unified UK and European equity team, with Ben Ritchie, previously Head of European Equities, appointed to lead the merged 20-strong team.
Andrew Millington, previously Head of UK Equities, will takes on a new role as Abdrn’s Head of Research & Investment Process, Equities.
It is understood five people will leave Abrdn doe to the changes.
Abrdn said in a statement: “As a result of our continuous focus on our clients’ needs and a commitment to investment excellence, we have made a strategic decision to evolve our approach in our equities business and create a single, unified UK and European equity team.
“By refining our structure in this way, we are confident our combined UK and European equity team will deliver three key benefits for clients …
“Greater focus on our existing strengths in Sustainable, Income, Value and Thematic investing …
“A pan-European research platform that will blend the benefits of a greater breadth of idea generation with more focus on actionable investment ideas for specific strategies.
“More targeted ESG engagement and stewardship that will enhance our ability to effect material, positive change in the companies we invest in …
“Ben Ritchie, previously Head of European Equities, has been appointed to lead our 20-strong UK and European Equity Team.
“Having joined the firm in 2002, Ben brings deep investment and leadership experience across the full breath of the region’s equity markets, and his appointment delivers continuity and stability.
“Andrew Millington, previously Head of UK Equities, takes on a dedicated new role as abdrn’s Head of Research & Investment Process, Equities.”