Standard Life Aberdeen has appointed new CEOs for the Asia-Pacific and U.K. and EMEA regions, a spokeswoman confirmed.
Rene Buehlmann will join as CEO Asia-Pacific effective March 1, replacing Hugh Young. Mr. Young — an Aberdeen veteran — will become chairman of Asia. He will continue to champion the business in Asia and help Mr. Buehlmann in his new role. He also retains his director positions representing Aberdeen on certain fund and U.K. investment trust boards.
Mr. Buehlmann will further develop the firm's money management business across APAC. He most recently founded a private company. Further details were not available. He left UBS Asset Management where he was head of Asia-Pacific in 2019.
The firm also said Chris Demetriou, head of Americas, will take on the additional role of head of U.K. and Europe, Middle East and Africa. He will lead the firm's investment business in the U.K., EMEA and Americas effective April 1.
He replaces Gary Marshall, head of U.K. and EMEA, who is retiring later this year.
The changes are part of wider appointments to support SLA's growth plans and align with three areas of business growth: investments, adviser and personal.
"We have a fantastic platform for growth in this business," CEO Stephen Bird said in a news release. "Asia-Pacific is a key component of that growth, which is why I am delighted to add someone of Rene's quality to the team — who can build upon Hugh's legacy."
Mr. Young's "ongoing counsel and strategic advice will be invaluable as we continue to build our presence in the region."
Mr. Bird described Mr. Demetriou as "a fantastic homegrown leader."
SLA's money management business, Aberdeen Standard Investments, had £511.8 billion ($630.7 billion) in assets under management as of June 30.
