Mr Fleming will take up his new role on October 2.

In the Readmission circular sent to Shareholders on 26 March 2021 it was explained that Peter McKellar would become deputy chairman and chief executive officer of the company, but that due to his other business commitments a full-time chief executive would be recruited at a future date.

Following Mr Fleming’s appointment, Peter McKellar will continue to be deputy chairman of the company and will remain actively involved in the development and execution of the company’s strategy.

Mr Fleming is chairman of The Big Exchange and a non-executive director of a number of other private companies. He was Global Head of Distribution and Marketing at Standard Life Aberdeen plc until September 2020. Before joining Aberdeen Asset Management in August 2016, he was chief executive - EMEA and global chief operating officer at Columbia Threadneedle Investments, having joined that firm as Global Head of Distribution in November 2009. Prior to this, Mr Fleming was head of UK for JPMorgan Asset Management.

Martin Gilbert, chairman of AssetCo, commented: “I am delighted that Campbell will be joining AssetCo as chief executive officer in early October. His experience and expertise within the asset and wealth management industry, together with his leadership qualities, means he is well placed to build on AssetCo’s strong foundations. The sector is facing numerous challenges, but the importance of the industry in enabling clients to achieve their financial goals is even greater. Campbell shares our belief that AssetCo can play a key role by investing in, supporting and developing businesses to meet the needs of investors.

“Peter steps down from his role as chief executive officer with AssetCo in fantastic shape. In the space of only a few months, he has overseen the acquisition of Saracen Fund Managers, the acquisition of a majority equity interest in Rize ETF and the acquisition of a 30% equity interest in Parmenion. The board and I are immensely grateful to Peter for all his hard work and guidance. We are delighted he will remain on the board as deputy chairman, continuing to be involved actively in the company’s development.”

Campbell Fleming added: “I am excited to be joining Martin, Peter and the AssetCo team, whose focus on clients, industry experience and commitment to innovation attracted me. There are a number of structural shifts taking place within the asset and wealth management industry, such as digitisation and changing investing habits.

“As an agile business, AssetCo can capitalise on these shifts to deliver value for investors and shareholders. I am really looking forward to building on the excellent momentum AssetCo has established in such a short period, as well as working with Martin, Peter and the wider team.”