30 June 2020 10:36
Standard Life Aberdeen boss Keith Skeoch will step down from the asset manager he helped form after leading it for five years. He will be replaced by former Citi executive Stephen Bird, who will join as chief executive-designate on Wednesday and will most likely take over by the end of the third quarter, subject to regulatory approval. Mr Skeoch's departure comes only two months after his former co-chief executive Martin Gilbert left the company. The two men led the money manager for several years after the merger of Aberdeen Asset Management with Standard Life in 2017. The dual-headed structure ended last year, with the company having deemed to have underperformed since its merger.
Mr Skeoch will serve out the remainder of his contract as non-executive chairman of Aberdeen Standard Investments Research Institute.