Directorate Change

RNS Number : 1184D

abrdn PLC

01 March 2022

 

abrdn plc

Board changes

abrdn plc announces the following Board changes.  Martin Pike and Jutta af Rosenborg will not stand for re-election at the 2022 AGM and will retire at the conclusion of the meeting.  Mike O'Brien and Pam Kaur will be appointed to the Board and to the Audit and Risk and Capital Committees with effect from 1 June 2022.  Their appointments will be subject to election by shareholders at the AGM on 18 May 2022.

Mike O'Brien has held executive leadership roles within a number of leading global asset managers in London and New York.  He retired in 2020 as Co-Head, Global Investment Solutions at JP Morgan Asset Management.  Mike brings extensive asset management experience with a key focus throughout his career on innovation and technology driven change in support of better client outcomes.  A qualified actuary, during his executive career with JP Morgan Asset Management, BlackRock Investment Management and Barclays Global Investors, he was responsible for developing and leading global investment solutions, distribution and relationship management strategies.

Pam Kaur has over twenty years' experience of leadership roles in business, risk, compliance and internal audit within several of the world's largest and most complex financial institutions during periods of significant change and public scrutiny.  In her current role as Group Chief Risk and Compliance Officer at HSBC she is at the forefront of the development and implementation of compliance, audit and risk frameworks and adapting these to changing regulatory expectations.

Commenting on these changes, Sir Douglas Flint, Chairman of abrdn plc, said:

"On behalf of the Board, I would like to thank Jutta and Martin for their dedicated service to abrdn during a period of great change and transformation.  As our two longest-serving directors, they were instrumental in the vision that brought Standard Life and Aberdeen Asset Management together and the transformation of the Company to a capital-light business.  I have greatly benefited from their experience and knowledge of abrdn's business and wish them well in the next chapters of their careers.

I am delighted to welcome Mike and Pam to our Board.  Mike's curiosity and well informed perspectives on the evolution of the asset management sector will be very informative to our strategy discussions and future growth plans.  Pam's experience in finance, risk, compliance and audit roles will support the Board in its responsibility to oversee the structure and operation of the group-wide risk and compliance frameworks which are in place across our regions and business vectors".

Following these changes, the Board will comprise two executive directors, nine non-executive directors and the Chairman.  The Board will be made up of six women and six men.  The Financial Conduct Authority and the Prudential Regulation Authority have been notified of these changes .  Mike and Pam's other appointments are listed below and no other information is required to be disclosed pursuant to paragraph LR 9.6.13R of the Listing Rules of the Financial Conduct Authority.

1 March 2022

 

Enquiries:

Media Andrea Ward	[phone]
Institutional Equity Investors Catherine Nash	[phone]
Group Secretariat Paul McKenna	[phone]

LEI number of abrdn plc: 0TMBS544NMO7GLCE7H90

Classification: 3.1. Additional regulated information required to be disclosed under the laws of the United Kingdom.

END

Notes to Editors

Mike O'Brien

Non-Executive Director's Fee

Mike's fee as a Non-Executive Director of abrdn plc will be £73,500 per annum.  His fees as a member of the Audit and Risk and Capital Committees will be £17,500 per committee per annum.

Interest in shares

As at the date of this announcement, Mike does not hold any shares in abrdn plc.

Biographical details:

Nationality: Education:

Irish Chartered Financial Analyst Institute of Actuaries FIA Limerick University BSc, Applied Mathematics

Current non-executive Roles

2020 - Current Current other non-executive Roles 2020 - Current Previous non-executive Role	Carne Global Financial Services Limited Non-Executive Director Osmosis Investment Management Senior Adviser PPF (Pension Protection Fund) Investment Committee in the UK Investment Adviser British Coal Pension Funds Investment Adviser Pluribus Labs Senior Adviser Past member of the Board of the UK NAPF Past member of the UK NAPF Defined Benefit Council.
Executive Career summary:
2010 - 2020 2000 - 2010 1997 - 2000 1993 - 1996 1985 - 1992	JP Morgan Asset Management Co-Head, Global Investment Solutions CEO, Investment Management EMEA & Co-Head, Global Investment Solutions; MD, Global Head of Institutional Businesses BlackRock Investment Management/Barclays Global Investors MD, Global Head of Institutional Businesses EMEA Towers Perrin Investment and Risk Consultant and Actuary Coopers & Lybrand Senior Manager and Actuary Towers Perrin Trainee Actuary

Pam Kaur

Non-Executive Director's Fee

Pam's fee as a Non-Executive Director of abrdn plc will be £73,500 per annum.  Her fees as a member of the Audit Committee and the Risk and Capital Committee will be £17,500 per Committee per annum.

Interest in shares

As at the date of this announcement, Pam does not hold any shares in abrdn plc.

Biographical details:

Nationality: Education:

British ICAEW Chartered Accountant Punjab University MBA & B.Comm. Accountancy

Current listed non-executive Roles

2019 - Current	Centrica Non-Executive Director, member of the Audit & Risk Committee, the Nomination Committee and the Safety, Environment and Sustainability Committee
Executive Career summary:
2013 - to date 2011 - 2013 2006 - 2011 2005 - 2006 1990 - 2005 1986 - 1990	HSBC Holdings plc Group Chief Risk & Compliance Officer Head of Wholesale Market and Credit Risk Group Head of Internal Audit Deutsche Bank Global Head of Group Audit Royal Bank of Scotland CFO & COO, Restructuring and Risk Head of Finance Shared Services Lloyds TSB Group Head of Compliance & Anti-Money Laundering Citigroup Various roles, ending as Director of Compliance, Global Consumer Group Ernst & Young Internal Audit

 

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