Stephen Bird will join Standard Life Aberdeen as chief executive-designate, effective July 1, replacing Keith Skeoch later in the year.
Mr. Bird will become group CEO following a transition period and subject to regulatory approvals, a news release Tuesday said. Mr. Bird is expected to replace Mr. Skeoch by Sept 30.
Mr. Skeoch will retire from the board of directors of the firm in September, after five years as group CEO and 14 years as a director. He will spend the remainder of his contract — until June 2021 — as non-executive chairman of the Aberdeen Standard Investments Research Institute, a spokesman said. The ASIRI is the firm's macro research unit.
Mr. Bird was most recently CEO of global consumer banking at Citigroup.
Mr. Bird "is an inspiring leader with a great track record and experience in leading businesses to harness digital technology to improve both productivity and the client and consumer experience," Sir Douglas Flint, chairman, said in the release. "This, coupled with his ability to create valuable partnerships and guide businesses through periods of major change, means that he is well placed to build on the strong foundations we have at SLA."
Standard Life Aberdeen, which has £544.6 billion ($671.6 billion) in assets under management and administration, was formed in 2017 following a merger between Standard Life and Aberdeen Asset Management. The group is made up of two businesses: The £486.5 billion money manager Aberdeen Standard Investments and Standard Life. Mr. Skeoch was CEO of insurer Standard Life prior to the merger. The group has a strategic partnership with insurance firm Phoenix Group, which acquired Standard Life Assurance in 2018.
Aberdeen Standard Investments said in October that Martin Gilbert, chairman of the money management unit and vice-chairman of parent company Standard Life Aberdeen, will leave on Sept. 30.
Mr. Gilbert was co-CEO of the firm alongside Mr. Skeoch until March 2019, when the co-CEO structure was dissolved. Mr. Gilbert was CEO of Aberdeen Asset Management prior to the merger.