LONDON (Reuters) -Abrdn said on Friday it has hired a finance chief from NatWest’s private bank Coutts, as CEO Jason Windsor builds out an executive team to try to lead a turnaround of the British fund manager.
Siobhan Boylan, currently CFO at Coutts after joining in September 2023, is expected to join abrdn in the summer.
Abrdn had been looking for a permanent successor to former CFO Jason Windsor after he stepped up to become CEO last year following the sudden departure of predecessor Stephen Bird.
Abrdn has been struggling to contend with years of net outflows of client cash amid relentless competition from larger U.S. rivals offering cheaper index-trackers, although it cheered investors with a more encouraging trading update in January.
Windsor – who has already begun cutting costs and shedding underperfoming businesses – is expected to give a strategy update for the company alongside full-year results on March 4.
Prior to Coutts, Boylan was CFO at wealth manager Brewin Dolphin and has also held senior finance roles at Legal & General and Aviva.
Abrdn said that interim CFO Ian Jenkins would continue in the role for the time being.
(Reporting by Iain Withers; Editing by Jan Harvey and David Evans)
