View the article online at http://citywire.co.uk/money/article/a1001467
Multi-asset manager quits Aberdeen after Standard merger
Fiona Gillespie, senior investment manager in Aberdeen Asset Management's multi-asset division has left the company.
Aberdeen Asset Management has suffered its first fund manager departure following the announcement of its planned merger with Standard Life, with Fiona Gillespie, senior investment manager on its multi-asset division leaving.
Gillespie managed the firm's Multi-Asset fund after joining Aberdeen through its acquisition of Edinburgh Fund Managers in 2003. Over one year, she returned 22.2% in the Mixed Assets - Aggressive GBP sector, ahead of the average manager return of 19%.
Aberdeen's multi-asset team is viewed as vulnerable as the two companies look for £200 million merger savings given that Standard Life Investments has a clear lead in this area with its £26 billion Global Absolute Return Strategies (Gars) fund.
An Aberdeen Asset Management spokesperson said: 'Fiona told us of her wish to pursue other interests at the end of last year. Her responsibilities have been shared across our Aberdeen Solutions and Multi-Asset teams, incorporating over 70 investment professionals.
'Heather McKay, senior portfolio manager, will work alongside Mike Turner in managing the Aberdeen Multi-Asset Fund. We are immensely grateful to Fiona for her contribution over the years and wish her well for the future.'
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