Abrdn confirmed on Friday that Ralph Bassett, its head of US equities, is leaving the firm.

“We can confirm that Ralph Bassett has decided to leave Abrdn to pursue a new opportunity outside of investment management,” said an Abrdn spokesperson.

“We would like to thank Ralph for his 16 years with the firm and wish him the best in his new venture.

“We are pleased to announce the appointment of US Equities Senior Investment Director Tim Skiendzielewski to lead our US Small Cap Equities strategy going forward.

“Tim will report to Head of Smaller Companies, Andrew Paisley.”