REG - abrdn PLC - Directorate Change

AberdeenAnnouncement

01/03/2022 07:15

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RNS Number : 1184D  abrdn PLC  01 March 2022

abrdn plc

 

Board changes

 

abrdn plc announces the following Board changes.  Martin Pike and Jutta af
Rosenborg will not stand for re-election at the 2022 AGM and will retire at
the conclusion of the meeting.  Mike O'Brien and Pam Kaur will be appointed
to the Board and to the Audit and Risk and Capital Committees with effect from
1 June 2022.  Their appointments will be subject to election by shareholders
at the AGM on 18 May 2022.

 

Mike O'Brien has held executive leadership roles within a number of leading
global asset managers in London and New York.  He retired in 2020 as Co-Head,
Global Investment Solutions at JP Morgan Asset Management.  Mike brings
extensive asset management experience with a key focus throughout his career
on innovation and technology driven change in support of better client
outcomes.  A qualified actuary, during his executive career with JP Morgan
Asset Management, BlackRock Investment Management and Barclays Global
Investors, he was responsible for developing and leading global investment
solutions, distribution and relationship management strategies.

 

Pam Kaur has over twenty years' experience of leadership roles in business,
risk, compliance and internal audit within several of the world's largest and
most complex financial institutions during periods of significant change and
public scrutiny.  In her current role as Group Chief Risk and Compliance
Officer at HSBC she is at the forefront of the development and implementation
of compliance, audit and risk frameworks and adapting these to changing
regulatory expectations.

 

Commenting on these changes, Sir Douglas Flint, Chairman of abrdn plc, said:

 

"On behalf of the Board, I would like to thank Jutta and Martin for their
dedicated service to abrdn during a period of great change and
transformation.  As our two longest-serving directors, they were instrumental
in the vision that brought Standard Life and Aberdeen Asset Management
together and the transformation of the Company to a capital-light business.
 I have greatly benefited from their experience and knowledge of abrdn's
business and wish them well in the next chapters of their careers.

 

I am delighted to welcome Mike and Pam to our Board.  Mike's curiosity and
well informed perspectives on the evolution of the asset management sector
will be very informative to our strategy discussions and future growth
plans.  Pam's experience in finance, risk, compliance and audit roles will
support the Board in its responsibility to oversee the structure and operation
of the group-wide risk and compliance frameworks which are in place across our
regions and business vectors".

 

Following these changes, the Board will comprise two executive directors, nine
non-executive directors and the Chairman.  The Board will be made up of six
women and six men.  The Financial Conduct Authority and the Prudential
Regulation Authority have been notified of these changes.  Mike and Pam's
other appointments are listed below and no other information is required to be
disclosed pursuant to paragraph LR 9.6.13R of the Listing Rules of the
Financial Conduct Authority.

 

1 March 2022

 

 

Enquiries:

 

 Media

 Andrea Ward                     +44 (0) 7876 178 696
 Institutional Equity Investors

 Catherine Nash                  +44 (0) 7798 518 657
 Group Secretariat

 Paul McKenna                    +44 (0) 7736 853 801

 

LEI number of abrdn plc: 0TMBS544NMO7GLCE7H90

 

Classification: 3.1. Additional regulated information required to be disclosed
under the laws of the United Kingdom.

 

END

 

Notes to Editors

 

Mike O'Brien

 

Non-Executive Director's Fee

Mike's fee as a Non-Executive Director of abrdn plc will be £73,500 per
annum.  His fees as a member of the Audit and Risk and Capital Committees
will be £17,500 per committee per annum.

 

Interest in shares

As at the date of this announcement, Mike does not hold any shares in abrdn
plc.

 

Biographical details:

 Nationality:  Irish

 Education:    Chartered Financial Analyst

               Institute of Actuaries FIA

               Limerick University

               BSc, Applied Mathematics

 

Current non-executive Roles

 2020 - Current                      Carne Global Financial Services Limited

                                     Non-Executive Director

 Current other non-executive Roles

 2020 - Current                      Osmosis Investment Management

                                     Senior Adviser

                                     PPF (Pension Protection Fund) Investment Committee in the UK

                                     Investment Adviser

                                     British Coal Pension Funds

                                     Investment Adviser

                                     Pluribus Labs

                                     Senior Adviser

 Previous non-executive Role

                                     Past member of the Board of the UK NAPF

                                     Past member of the UK NAPF Defined Benefit Council.

 Executive Career summary:
 2010 - 2020                         JP Morgan Asset Management

                                     Co-Head, Global Investment Solutions

                                     CEO, Investment Management EMEA & Co-Head, Global Investment Solutions;

                                     MD, Global Head of Institutional Businesses

                                     BlackRock Investment Management/Barclays Global Investors

 2000 - 2010                         MD, Global Head of Institutional Businesses EMEA

                                     Towers Perrin

                                     Investment and Risk Consultant and Actuary

 1997 - 2000

                                     Coopers & Lybrand

                                     Senior Manager and Actuary

 1993 - 1996

                                     Towers Perrin

                                     Trainee Actuary

 1985 - 1992

 

Pam Kaur

 

Non-Executive Director's Fee

Pam's fee as a Non-Executive Director of abrdn plc will be £73,500 per
annum.  Her fees as a member of the Audit Committee and the Risk and Capital
Committee will be £17,500 per Committee per annum.

 

Interest in shares

As at the date of this announcement, Pam does not hold any shares in abrdn
plc.

 

Biographical details:

 Nationality:  British

 Education:    ICAEW

               Chartered Accountant

               Punjab University

               MBA & B.Comm. Accountancy

 

Current listed non-executive Roles

 2019 - Current  Centrica

                 Non-Executive Director, member of the Audit & Risk Committee, the

               Nomination Committee and the Safety, Environment and Sustainability Committee

 Executive Career summary:
 2013 - to date  HSBC Holdings plc

                 Group Chief Risk & Compliance Officer

                 Head of Wholesale Market and Credit Risk

                 Group Head of Internal Audit

 2011 - 2013     Deutsche Bank

                 Global Head of Group Audit

 2006 - 2011     Royal Bank of Scotland

                 CFO & COO, Restructuring and Risk

                 Head of Finance Shared Services

 2005 - 2006     Lloyds TSB

                 Group Head of Compliance & Anti-Money Laundering

                 Citigroup

 1990 - 2005     Various roles, ending as Director of Compliance, Global Consumer Group

                 Ernst & Young

                 Internal Audit

 1986 - 1990

 

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