Aberdeen Asset Management’s head of acquisitions, and one of its earliest employees, is to leave the firm at the end of the month.
Hugh Little will retire after 28 years at the firm, having been the ninth employee hired by co-founder and chief executive Martin Gilbert.
Little also took the helm of Aberdeen’s aggressive acquisitions policy in recent years, being behind its takeover of Scottish Widows Investment Partnership. Recent years have also seen the firm acquire Artio Global Investors, in the US, and most recently private equity firm Flag Capital Management.
Little was also behind the acquisition of the Royal Bank of Scotland’s alternatives fund management business and the acquisition of some of Credit Suisse’s asset management business.
David Boyle, an existing Aberdeen employee on the alternative team, will replace Little.
Little commended the “fantastic growth story” Aberdeen has seen in his time there, where assets have grown from less than £100 million to £330bn.
Martin Gilbert, Aberdeen chief executive, says: “Hugh has played a significant role in Aberdeen’s growth and success. Without his management skills, commitment and focus, many of the acquisitions which have helped us to grow would not have happened and Aberdeen would not be the financially strong diversified, global asset management company we are today.”
Little said he plans to spend more time on the golf course and in non-executive roles.