Mr Byrne currently holds the position of deputy head of global equities and will succeed Stephen Docherty, who is stepping down for personal reasons after serving the company for 25 years.

ASI’s global equity team manages £8.9 billion of assets on behalf of clients around the world. The 17 strong team, based in Edinburgh, London, Boston, New York, and Singapore are an integral part of the ASI’s global investment capabilities.

Devan Kaloo, global head of Equities at Aberdeen Standard Investments, said: “Stephen and Dominic have worked together since 2017 to lead our Global Equity Team and evolve and enhance our investment process.

“We have invested considerably in our capabilities including expanding both our regional research and global equity teams. The team consists of 17 highly experienced and talented investors managing a broad range of strategies across large cap, income, impact and smaller companies strategies. Under Dominic’s leadership we believe the team is well placed to build on its already strong foundations and continue to deliver for our clients.

“I am sad to see Stephen step down, but completely understand why he made this decision and fully support him. He has made a considerable contribution to the company, our people and clients over the last 25 years. Stephen will leave with our heartfelt thanks and very best wishes for the future.”

Dominic Byrne, head of global equities at Aberdeen Standard Investments, added: “I’m delighted to succeed Stephen as Head of Global Equities. As a team we are focused on continuing to support our existing, successful strategies, enhancing our processes and establishing new capabilities, including responsible and thematic strategies. This plan is already bearing fruit with a sustained improvement in performance across many strategies.”

Stephen Docherty said: “Having spent 25 years working for the same company and with many fantastic people it was a difficult decision to make, but it is the right one for me and my family. I leave with the global equity team in good hands with Dominic at the helm to take it forward.”