Gregg McClymont joined Aberdeen Asset Management as head of retirement savings, a spokesman said.
The position is new.
Mr. McClymont focuses on both defined contribution and defined benefit savings, the spokesman said. He covers DC retirement plan strategy, research and implementation, and has a particular focus on the new landscape for DC in the U.K. following reforms last April.
“This is a crucial moment for pensions and savings,” Mr. McClymont said in a news release from Aberdeen. “The end of compulsory annuities poses a huge public policy challenge.”
Aberdeen has £330 billion ($512 billion) in assets under management.
Mr. McClymont was shadow pensions minister, and a Labour Party member of parliament for Cumbernauld, Kilsyth and Kirkintilloch East until this year. Rachel Reeves is the new shadow secretary of state for work and pensions.
