Standard Life Aberdeen (SLA) has hired Caroline Connellan as chief executive of personal wealth based in London.
She will take oversee the firm’s personal wealth businesses including 1825 Financial Planning and SLA’s direct-to-customer propositions including digital retirement advice.
This comes as SLA looks to significantly grow personal wealth under its recently announced unifying single brand Abrdn.
Connellan will report directly to Stephen Bird, chief executive of SLA, as a member of the executive leadership team.
She joins from Brooks Macdonald Group, where she is chief executive, having led that business since early 2017.
Build proposition
Bird said: “I am delighted that Caroline will be joining us. She is an outstanding talent with clear and proven ability in building exceptional wealth management businesses, both organically and via acquisition. Critically, she has a deep customer-centric mindset and extensive experience in creating compelling and innovative offerings.
“Alongside significant investment in asset management and our adviser support business, our intention is to build a market-leading wealth management proposition to capture value in the growing savings and pre-retirement market.
“The appointment of Caroline to lead our personal wealth business will be instrumental in delivering our objectives and I’m extremely pleased that she has shown strong confidence in our strategy and brand by joining us.”
CEO change
Elsewhere, Brooks Macdonald Group has named Andrew Shepherd as chief executive to replace Connellan.
Shepherd is currently group deputy chief executive and chief executive of the group’s international business after joining Brooks Macdonald in 2002.
Alan Carruthers, chairman of Brooks Macdonald, said: “His unrivalled experience and knowledge of the industry, and commitment to Brooks Macdonald, position him uniquely to lead the group and build on its significant momentum.
“I am confident he will continue this progress and drive forward our strategic vision for Brooks Macdonald as the leading investment manager for intermediaries.
“On behalf of the board, I would like to thank Caroline for her leadership over the past four years. She has been central to the transformation of the business, guiding it through a period of change, leaving it in a position of strength and primed for further growth. We wish Caroline well in the next stage of her career.”
Brooks Macdonald said “a further statement will follow with details of related directorate changes”, it did not state if this meant the group will announce a replacement chief executive for its international arm.
