Aberdeen multi-manager head quits

Aberdeen Asset Management’s co-head of multi-manager and former head of multi-manager at Scottish Widows Investment Partnership, Mark Harries, has left the firm.

Mr Harries, along with former SWIP investment director Simon Wood, ran the wholesale multi-manager range at Aberdeen following the acquisition of the Edinburgh-based fund manager from Lloyds Banking Group in a £650m deal two years ago.

Harries also headed up the manager selection team.

“Following the successful integration of the SWIP investment solutions team into the Aberdeen business Mark Harries is leaving the business,” a statement from Aberdeen said. “Mark played an important role in the integration of the two businesses and he leaves Aberdeen with our best wishes for the future.”

Mr Wood, who will take up the head of manager research role, and Graham Duce, who is director of multi-asset, will jointly take over the Aberdeen multi-manager portfolios, supported by a 14-strong team.

“Overall the combined team is responsible for managing client investments of around £15bn in unfettered mandates where Aberdeen’s investment solutions business uses third-party managers,” says Aberdeen.

In July last year Aberdeen’s Aidan Kearney left the multi-manager team, with Wood and Harries taking over at the time.

At the time, Aberdeen Asset Management global head of investment solutions Archie Struthers said: “By combining the two legacy teams, we now have one of the most experienced and well resourced in the industry with over 60 investment professionals developing and delivering innovative solutions for our clients.”