By Mark McSherry

Abrdn said Steve Logan has returned to the Edinburgh-based asset management group as Head of European High Yield and Global Loans, four years after leaving to join PGIM.

The firm said Logan succeeds Ben Pakenham “who leaves Abrdn to pursue other opportunities.”

“Steve brings over 30 years’ credit investment and leadership experience, including at Abrdn between 2001 and 2020,” said Abrdn.

“At Abrdn, Steve occupied various leadership roles for many years, including Global Head of High Yield and Head of European High Yield and Global Loans.

“Abrdn takes a global, team approach to investing with multi-specialisms and collaboration, and our core high yield and global loans team has an average industry tenure of over 25 years.

“The research conducted by our high yield specialists is complemented by our powerful network of credit resources who have extensive and detailed company knowledge, as well as the input of other asset class specialists and our Rates team and Global Macro Research team regarding global growth and interest rate prospects.

“Abrdn has over 140 people in Fixed Income and around 60 undertaking credit research. The breadth and depth of our well-resourced team means that we are well placed to continue to deliver for our clients regardless of any changes within the team.”

Abrdn has assets under management and administration (AUMA) of £507 billion.

Jonathan Mondillo, Head of Global Fixed Income, Abrdn, said: “We are very pleased to welcome back to Abrdn Steve Logan, who is an outstanding investor and leader.

“Steve has had a long and successful career in high yield and knows our clients and their assets very well. We look forward to working with him to continue to deliver strong performance for our clients.”