Keith Skeoch was appointed sole CEO of Standard Life Aberdeen, the parent company of money manager Aberdeen Standard Investments, the firm said in a statement.
Aberdeen Standard Life said that effective Wednesday it had dissolved its co-CEO structure, which was established in 2017 during the merger of Aberdeen Asset Management and Standard Life.
Martin Gilbert, former co-CEO, was named vice chairman of Standard Life Aberdeen and chairman of Aberdeen Standard Investments. He remains executive director of the board. Mr. Gilbert focuses on strategic relationships with clients and winning new business.
Messrs. Skeoch and Gilbert will continue to report directly to the chairman, Sir Douglas Flint.
“The changes that we have announced today have the unanimous backing of the board. The new structure will strengthen our client focus, simplify reporting lines and facilitate robust execution of the next stages of our transition and transformation programs,” Mr. Flint said in a news release.
Aberdeen Standard Investments had £505.1 billion ($641 billion) in assets under management as of Dec. 31.