Aberdeen Group has appointed Jonathan Asquith, current senior independent director, as its interim chair while it searches for a permanent chair to replace Sir Douglas Flint who is stepping down in April.
While he is interim chair, Mr Asquith will receive a pro-rated fee of £475,000 per annum but with no additional director fees in relation to his other roles in the company.
The appointment is subject to regulatory approval and comes amid other interim board changes at the group.
Sir Douglas announced at the company's 2025 AGM, that he would not stand for re-election at the following year's AGM. He will step down as chair and director of the company at the end of the company's board meeting on 28 April. The process to find a permanent successor is under way.
During the interim period, Hannah Grove, non-executive director, will assume the role of chair of the Remuneration Committee. John Devine, non-executive director, will assume the role of senior independent director and rejoin the Nomination and Governance Committee. Mr Asquith will step down as a member of the Audit and Risk Committee.
Mr Asquith said: "On behalf of the board, I would like to thank Sir Douglas for his exceptional contribution to the company since joining the board in 2018. His chairmanship has played a pivotal role in repositioning Aberdeen for success as a leading UK wealth and investments group. On behalf of my colleagues on the board, I wish him all the very best for the future.
Sir Douglas Flint said: "It has been a huge privilege to serve as chair of Aberdeen. In what has been quite a journey, I am really proud of what the board and the executive team with the support of our colleagues have achieved together, including simplifying the group and sharpening our strategic priorities.
“Jason is leading a first-rate executive team, with a clear strategy aimed at building the UK's leading wealth and investments group. I would like to thank my Aberdeen colleagues for their commitment and support, and I wish Jonathan, Jason and everyone at Aberdeen continued success."