Andrew Paul was appointed senior executive officer, Aberdeen Asset Management Middle East Ltd., as part of the money manager’s first presence in the region with a new office in Abu Dhabi, a spokesman said.
Aberdeen also named Lucy Draper senior business development manager in the new office.
Mr. Paul’s position is new. Ms. Draper’s is an expansion of her previous duties.Mr. Paul and Ms. Draper both relocated from London last month and continue to report to Nigel Norman, head of Middle East and Africa at Aberdeen. Mr. Norman is based in London.
Aberdeen has established its regional hub and first Middle East office in Abu Dhabi Global Market, an international financial center in Abu Dhabi. Aberdeen is the first international money manager located in the ADGM, according to an Aberdeen news release.
Aberdeen said in the release Wednesday that it expects demand in the Middle East and North Africa region — which accounts for $8 billion of total global assets under management of $402 billion — to be highest for direct real estate, Islamic equities, multiasset income, Indian bonds and emerging markets debt strategies.
Mr. Paul was head of group strategy in Aberdeen’s distribution division. The spokesman said his responsibilities have been absorbed by colleagues on the distribution side and by Gordon Neilly, head of strategy and corporate activity.
Ms. Draper was a senior business development manager covering the U.K. and Africa. The spokesman said her role has been expanded from Africa to also include the Middle East, and that her U.K. responsibilities have been shared internally among the U.K. team.
CEO Martin Gilbert said in the news release that the opening of a local office in the Middle East “is the natural next step for us. We already enjoy a good relationship with a number of clients in the region, and we believe the economic fundamentals of the region will create opportunities for asset managers over the coming years.”