Rod Paris, CIO of abrdn is departing from the firm at the end of the year, a spokeswoman said.
Following Mr. Paris' decision to retire, abrdn is not hiring a new CIO, the spokeswoman confirmed.
Instead, abrdn, which is the new name for Standard Life Aberdeen, is changing its investment management structure. The heads of public markets, real assets, solutions and central investments will report directly to CEO Stephen Bird.
"When Rod and I first spoke about his plans several months ago, our priority was to ensure continuity and clarity to clients – while also putting in place a structure that empowers the talented team we have at abrdn, and the significant expertise and experience they have in delivering for our clients," Mr. Bird said in a news release Wednesday.
"Rod ... has made an enormous contribution to the company over that time and we thank him wholeheartedly for the value he has created. I will personally miss his wisdom, support, and his fierce intelligence. He leaves a fantastic legacy for us to continue to build on," Mr. Bird added.
Mr. Paris could not be reached for a comment.
Additionally, effective Aug. 9, Devan Kaloo and Craig Macdonald were named global head of public markets and deputy head of public markets, respectively.
In expanded roles, Messrs. Kaloo and Macdonald will continue to lead their respective asset classes as global head of equities and global head of fixed-income, respectively.
Abrdn's real assets business will continue to be led by global head of real assets Neil Slater, while the firm's solutions business will continue to be led by Robert McKillop, who is global product and solutions business. The firm's central investments will continue to be headed by Archie Struthers, who is responsible for investment oversight and governance.
