Aberdeen is to acquire Credit Suisse's multi-manager fund range, which will see Aidan Kearney and Graham Duce, alongside fellow team member Robert Bowie and Scott Spencer, join the firm.
The fund of funds range now forms part of the £250 million all-share deal, which was finalised at the end of last year. Initially, the multi-manager arm was to remain with Credit Suisse as part of its alternative solutions arm.
Aberdeen will gain £730 million in assets under management and 12 onshore funds through the deal, alongside four Luxembourg-domiciled Sicavs.
The acquisition is scheduled to be finalised in July and will see the whole Credit Suisse multi-manager team move over. Kearney, Duce, Bowie and Spencer move over to Aberdeen alongside analyst Justin Jones on 1 July. At the beginning of August the fund names will be rebranded under the Aberdeen umbrella.
Commenting on the move, Duce said: 'It was important for us that the team stayed in tact and we are pleased the whole team will move across.'
'I think Aberdeen has got a good strong brand and global reach and a good distribution capacity. The fact that the firm does not have a multi-manager offering means that we see opportunities for our fund range with their clientele.'
Duce added that he was hoping for a seemless transition to Aberdeen, which he described as 'only a change of name'.
Anne Richards, chief investment officer at Aberdeen, said: 'Aberdeen is delighted that this experienced and highly regarded team is joining and we are looking forward to working with them.
'The addition of a multi-manager capability significantly strengthens the range of products we can offer to our clients around the world and also broadens our client base. Their skills and expertise will be of particular benefit as we look to broaden the range of retirement solutions we have to offer to current and prospective clients.'
A spokesman at Aberdeen stressed Duce and Kearney's approach did not conflict with Aberdeen's investment approach.
At the start of the month, the first part of the acquisition was finalised with the purchase of the Asia Pacific unit, which had £7.1 billion of assets under management at the end of March 2009.