Ralph Bassett was named head of North American equities at Aberdeen Asset Management, effective June 30, spokeswoman Katie Cowley said in an e-mail.
Mr. Bassett will replace Paul Atkinson, who will be leaving Aberdeen Asset Management and moving back to Europe with his family for personal reasons. Mr. Atkinson is not joining another firm.
Mr. Bassett will assume leadership of the 13-person team that manages the company's North American equity portfolios. He will continue to work out of the Philadelphia office and report to Hugh Young, global head of equities.
Mr. Atkinson will work closely with Mr. Bassett to ensure a smooth leadership transition.
Mr. Bassett was deputy head of North American equities at Aberdeen. Ms. Cowley said she expects a replacement to be named before the end of June. At Aberdeen, “there are a number of potential senior investment manager candidates who we feel have the capability to assume these responsibilities,” Ms. Cowley added in the e-mail.
Aberdeen Asset Management had more than $525 billion in assets under management as of Sept. 30.
