Mr Paris will remain as the company’s chief investment officer and a key member of the company’s executive leadership team, with his reporting line into Keith Skeoch, chief executive officer unchanged.

Mr Paris will continue to attend board meetings to present on the performance of the Investment function.

Rod Paris said: “Since the merger we have put in place the integrated and firm foundations upon which we continue to build strong and compelling performance for our clients and customers. I am looking forward to continuing to lead what is an outstanding investment team as we pursue our relentless drive for improved performance.”

Sir Douglas Flint, chairman, added: “Rod joined the Board as Chief Investment Officer at the time of the merger between Standard Life and Aberdeen Asset Management in August 2017, to ensure the Board had a direct link to the critical process of integrating the investment businesses and processes of the two firms.

“With that integration largely complete and with his continuing presence at Board meetings, both Rod and I agreed that the timing is now right, particularly in light of improving investment performance, for him to step off the Board to concentrate all his attention on leading the Standard Life Aberdeen investment function of 1,400 experts globally.”