Aberdeen recruits to new ‘head of insurance’ role

Aberdeen Asset Management has appointed James Hughes to the newly created role of Head of Insurance Solutions within its Investment Solutions business.

Mr Hughes will take a leading role in building and delivering bespoke and pooled multi-asset solutions for Insurance clients, working in close partnership with the Insurance Specialists team within Aberdeen’s Distribution division.

He will join the Investment Solutions management team, reporting to Archie Struthers, Global Head of Investment Solutions. Aberdeen manages over £120 billion on behalf of insurance clients (as at 30 September 2015).

Leveraging James’ prior international experience across both the asset management and insurance industry allows Aberdeen to expand its Insurance Solutions business in a structured manner, directly targeting the specific and unique investment needs of the insurance industry.

James joined Aberdeen from Gottex Asset Management (UK) Limited where he was Managing Director, Multi-Asset Solutions. Prior to joining Gottex, James worked at HSBC for over eight years where he was the Group CIO, HSBC Insurance, responsible for assets totalling more than US$95 billion across 14 countries globally including developed, emerging and frontier markets.

According to consultancy Spence Johnson, insurance assets managed by third party fund managers are set to double to almost €1 trillion over the next 10 years. Structural changes within insurers combined with new regulation, for example Solvency II, means more assets will be outsourced to fund managers.

Archie Struthers, global head of investment solutions at Aberdeen Asset Management, said:”Building and managing portfolios for insurance clients is a core part of Aberdeen’s overall investment platform. The evolving regulatory and capital markets environment we believe means insurers around the world will seek bespoke multi-asset solutions that deliver attractive capital-adjusted and risk-adjusted returns.

“We are delighted to have attracted someone of James’ calibre which is a reflection of the high regard he has for Aberdeen and our significant capabilities in terms of managing insurance mandates. James’ experience and expertise is complementary to our existing insurance-related team and will ensure we continue to be well placed to provide insurance clients with the bespoke investment solutions that they require.”