Born in Edinburgh in 1957, Mr Nimmo joined the firm, previously Standard Life, in 1993 as an investment manager. At its launch in 1997, he was put in charge of the Standard Life UK Small Companies fund, which now manages a portfolio of approximately 50 companies.

Regarding the change in management, an abrdn spokesperson told Scottish Financial News: “Going forward, Abby Glennie will remain manager on all UK Smaller Companies products. She will be joined by Amanda Yeaman who will be promoted to deputy with effect from 1 January 2023.

“Abby has been working with Harry on the UK Smaller Companies funds for almost seven years, having been named co-manager in November 2020. From a broader team perspective, there will be no change to the overall leadership structure with Andrew Paisley continuing to lead the Smaller Companies team supported by Abby Glennie as his deputy.”

Andrew Paisley, head of smaller companies, abrdn: “It has been a privilege to work with Harry over the last 8 years and I would like to thank him for his collegiate, team based approach which has ensured that we have in place a disciplined process and an extremely well-resourced team that will continue to implement our highly successful quality, growth and momentum approach.

“On a personal note I would like to wish Harry a very well deserved, happy and long retirement.”

Mr Nimmo, commented: “I would not have stayed at abrdn for more than 37 years if I hadn’t enjoyed myself working with many colleagues that have become friends.

“I value stability and continuity highly, both in our Investment process and in providing a robust framework that will enable our small/midcap strategies to deliver continued long-term performance for our clients long after I have gone.

“We have been preparing for my departure for some years now with a view to making the transition as seamless as possible.”