Standard Life Aberdeen (SLA) has hired Brooks Macdonald CEO Caroline Connellan as the new head of its personal wealth unit.
As a member of the executive leadership team, Connellan will report directly to Standard Life Aberdeen CEO Stephen Bird. She will be based in London.
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Commenting on her appointment, Connellan added: “It’s an exciting time to be joining SLA given its ambitions and commitment to the growing wealth market. Stephen’s vision for the business is dynamic and bold, and I’m delighted to have the opportunity to lead and shape the Personal Wealth business, building on its current quality offering.”
Connellan has been CEO of wealth manager Brooks Macdonald since early 2017.
Prior to this, she worked at HSBC and handled held key positions at the firm including the head of UK Premier and Wealth.
She also has extensive consulting experience in the asset management and wealth sector with McKinsey.
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By GlobalDataDuring her early career, Connellan worked at Standard Life and Newton Investment Management.
SLA’s Personal Wealth business includes 1825 Financial Planning and its direct-to-customer propositions including Digital Retirement Advice.
The new appointment comes at a key juncture as the company looks to expand the personal wealth unit under its recently announced unifying single brand Abrdn.
Bird said: “The appointment of Caroline to lead our Personal Wealth business will be instrumental in delivering our objectives and I’m extremely pleased that she has shown strong confidence in our strategy and brand by joining us.”
Meanwhile, Brooks Macdonald Group has appointed Andrew Shepherd as Group CEO with effect from 1 July 2021, subject to regulatory approval.
The firm said Andrew will begin a process of handover from Connellan immediately.
