The asset manager confirmed in a statement on July 15 that Archie Struthers – who joined Scottish Widows Investments Partnership from BlackRock in 2011 – had left to pursue new opportunities.
In the same statement, Andrew McCaffery, group head of solutions at Aberdeen, said: “Archie made a major contribution to the development of the business whilst at Swip and during the integration process at Aberdeen and we thank him for all his hard work.”
The firm added that Struthers will not be directly replaced, with his responsibilities “absorbed by other members of the senior management team within solutions”.
As of March 31, Aberdeen ran some £128 billion in the solutions business, overseen by McCaffery. Over the previous six months, the division had suffered £5.6 billion in outflows, according to its results for the period.
Before Swip’s takeover by Aberdeen in 2014, Struthers had been managing director of investment solutions at Swip. As a result of the acquisition he became head of the firms’ combined solutions divisions and also joined Aberdeen’s group management board.
According to a regulatory filing, Struthers officially left Aberdeen on July 1. Prior to Swip, Struthers spent 15 years at BlackRock, where he held roles including chief operating officer of multi-asset client solutions and operating chief of multi-asset portfolio strategies, according to his LinkedIn page.
His departure comes at a time when asset managers have been placing greater focus on their solutions teams, which develop investment strategies across a range of asset classes and styles. Aviva Investors hired former BlackRock manager John Dewey, to lead investment strategy within its solutions team in February.
CORRECTION: This story has been updated with the correct spelling of Andrew McCaffery’s name
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