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RNS Number : 4212H abrdn PLC 27 July 2023
abrdn plc
Appointment of Chief Financial Officer and Executive Director
abrdn plc ("abrdn" or the "Company") is pleased to announce the appointment of
Jason Windsor as Chief Financial Officer and Executive Director of the
Company, subject to regulatory approval. Jason is expected to join the Company
by the end of October 2023.
Jason is a highly experienced CFO and brings demonstrated expertise and
significant knowledge of our industry from over a decade within the Aviva
Group, latterly as Group Chief Financial Officer, departing from that role in
2022. Prior to taking on that Board position in 2019, he served as Chief
Financial Officer of its UK Insurance businesses, Chief Capital &
Investments Officer and a Director on the Board of Aviva Investors. Jason
joined Aviva in 2010 after 15 years at Morgan Stanley, latterly as a Managing
Director within its Investment Banking Division advising financial sector
clients. For the last year he has been Chief Financial Officer of Persimmon
plc.
Sir Douglas Flint CBE, Chairman, said:
"I am delighted to welcome Jason to the Board. His detailed knowledge and
experience in our sector together with his broader financial markets
experience complements existing Board capabilities very positively. We are all
looking forward to working with him."
Stephen Bird, Group Chief Executive Officer, said:
"Jason is a superb addition to our executive team at abrdn, bringing almost
three decades of experience from the UK financial services sector. He is a
clear thinker who knows our markets and has first-hand knowledge of life as a
public company CFO. He can unquestionably help us drive the business to the
next level."
Jason Windsor said:
"I am delighted to be joining abrdn, which is pursuing an exciting
customer-centric strategy. The financial services sector is undergoing
monumental changes with consumers having to take more responsibility for their
own finances, there is a huge advice gap, and the asset management industry is
in transformation. I can't wait to join the abrdn team and play my part in
delivering on the vision".
This announcement is made pursuant to Listing Rule 9.6.11.
27 July 2023
END
Enquiries:
Media
Duncan Young +44 (0) 7920 868 865
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
Notes:
In accordance with paragraph LR 9.6.13R of the Listing Rules, abrdn confirms
there is no further information to be disclosed in terms of LR 9.6.13R (1) to
LR 9.6.13R (6) inclusive in respect of Jason Windsor.
Remuneration arrangements
All remuneration arrangements for Jason are consistent with the terms of the
Directors' Remuneration Policy approved by shareholders at the Company's AGM
in May 2023. As Chief Financial Officer of abrdn plc, Jason's remuneration
will comprise the following:
· A base salary of £675,000 per annum.
· A pension allowance of 18% of salary aligned to the maximum
contribution available to abrdn's UK-based employees and other benefits in
line with the Directors' Remuneration Policy.
· An Annual Bonus up to a maximum of 150% of salary subject to
performance (with 50% of any bonus earned being deferred into abrdn shares for
three years which will vest in three equal annual tranches).
· An annual Long Term Incentive award of 225% of salary (final vesting
% based on stretching financial and shareholder return targets over the
three-year performance period and the award is subject to a further two-year
holding period).
Jason will be required to build a shareholding in abrdn to the value of 225%
of his base salary. At the date of this announcement, he holds no ordinary
shares of abrdn.
Jason will receive awards to compensate for remuneration he is forfeiting on
leaving his current employer. These will remain subject to performance
conditions where appropriate and reflect the value of the forfeited awards.
The vesting timeline of the replacement awards will be the same as those which
apply to the forfeited awards. Details will be disclosed in abrdn's Directors'
Remuneration Report for the year ending 31December 2023.
Notes to Editors:
abrdn is a global investment company that helps clients and customers plan,
save and invest for the future. We manage and administer £500bn of assets on
behalf of our clients (as at 31 December 2022). We are structured around
three businesses - Investments, Adviser and Personal - focused on the changing
needs of our clients.
By diversifying the group, we are positioning ourselves for growth in a
changing investment landscape. Our focus on four strategic priorities enables
us to meet the needs of clients across a range of markets.
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