Edinburgh-based investment giant Aberdeen Group plc announced that asset management veterans Arno Kitts and Rick Lacaille have been appointed to its group board as non-executive directors with effect from June 3, 2026.
“They will put themselves forward for election by shareholders at the 2027 AGM,” said the company. Both new directors will be paid a fee of £75,000 a year.
Meanwhile, the group’s Aberdeen Investments business announced the appointment of Shelley Morrison as Head of Private Credit and Fund Finance. She succeeds Marianne Zangerl, who has been promoted to lead Multi Asset and Alternative Investment Solutions (MAAIS) within Aberdeen.
New group director Kitts has over 30 years’ experience in global asset management and insurance, having held senior leadership roles at BlackRock, Henderson Global Investors and JP Morgan.
At BlackRock, Kitts was Managing Director of the UK Institutional business and Chief Executive of its life insurance investment platform. He is the founder of Perspective Investments, a boutique investment management firm.
Kitts has also served as a Non-Executive Director of Pension Insurance Corporation plc, where he chaired the Investment and Origination Committee.
“His combination of investment, distribution, insurance and governance expertise will be a valuable addition to the Board,” said Aberdeen.
“Arno is currently Chair of New World Group Holdings Limited and a member of the Investment Committee of The Valesco Group Limited.”
New group director Lacaille is also an experienced investment executive, having spent over 20 years in senior roles at State Street Global Advisors, latterly as Global Chief Investment Officer, where he had oversight of investment activity across active and passive strategies and multiple asset classes.
“He brings extensive experience of leading global investment teams, navigating complex market environments and driving strategic change across economic and market cycles,” said Aberdeen.
“Rick also has deep experience in ESG having most recently served as Global Head of ESG at State Street, where he led the firm’s approach to sustainability and engagement with regulators, clients and investors.
“His global perspective and understanding of markets and evolving regulatory themes will bring considerable value to the Board.”
Lacaille is currently a Senior Advisor at Enzo Advisors LLC and Executive Advisor at Arab Invest. He has also held a number of industry roles, including as Chair of the Institute for Quantitative Investment Research and as a member of the Investment Association’s Asset Management Committee.
Aberdeen Group chair Jonathan Asquith said: “I am delighted to welcome Arno and Rick to our Board. Both have considerable experience in global asset management, combining significant investment expertise with distribution, strategy and governance.
“Together, they bring highly complementary skills and perspectives and significant industry insight, which will be of considerable value as we execute Aberdeen’s strategy to become the UK’s leading wealth and investments business.”
Following these changes, the Aberdeen board will comprise two executive directors, seven non-executive directors and the chair. The board will be made up of four women and six men.
Aberdeen Investments, meanwhile, outlined the appointment of Shelley Morrison as Head of Private Credit and Fund Finance, succeeding Marianne Zangerl, who has been promoted to lead Multi Asset and Alternative Investment Solutions (MAAIS).
“Shelley brings over 21 years of experience in private credit and structured finance,” said Aberdeen Investments.
“She will oversee Fund Finance, Commercial Real Estate Lending, Infrastructure Debt, Private Corporate Debt and Emerging Market private credit. The twenty-strong team of professionals have originated over 300 transactions and deployed approximately £15 billion of capital since inception.
“Leading Aberdeen’s Fund Finance strategy since 2019, Shelley has overseen a period of significant growth. Under her leadership, the strategy has deployed more than £4 billion, expanded its institutional client base and launched new investment vehicles, including the evergreen Global Fund Finance Fund, which has raised more than €340 million to date.”
Jonathan Mondillo, Global Head of Fixed Income at Aberdeen Investments, said: “Shelley is an important ambassador for the asset class, and under her leadership our fund finance strategy has become a core pillar of Aberdeen’s private credit offering, recognised for its disciplined, asset-backed approach and strong client demand.
“With a proven ability to build and scale investment strategies, deepen institutional relationships, drive product innovation and manage money, her expanded role plays to all her strengths.
“I would also like to thank Marianne, who has been a superb leader, fund manager and talent manager for our Private Credit platform, and we look forward to continued collaboration in her new role.”
Morrison said: “Investor demand for our suite of specialist, asset-backed credit strategies continues to grow, making this an exciting time to take on the leadership of our Private Credit business, having worked closely with the team for many years.
“The breadth of our capabilities – from originating opportunities across Europe and the US to expanding access to emerging market private credit – positions us well to deliver for clients. I look forward to working with our talented team as we continue to add value for clients.”