LONDON (Reuters) – Abrdn has hired a new chief investment officer from one of Europe’s largest global pension investors, the company said on Wednesday, as it seeks to boost returns after a turbulent period.
Peter Branner will join on May 1 from APG Asset Management and will work on simplifying Abrdn’s product range, focusing on core services and improving investment performance, the company said.
The company had been without a chief investment officer since the end of 2021, when Rod Paris left the group.
Asset managers have had to navigate a tough market over the past year as volatility acclerated by war in Ukraine and rampant inflation have hit stocks and bonds.
Abrdn said last year it would take longer to grow its revenues and boost profitability after half-yearly profit missed expectations, as outflows surged and cautious investors shunned riskier investments.
(Reporting by Iain Withers, Editing by Louise Heavens)
