In London on February 28, Abrdn announced its hiring of Siobhan Boylan as the new finance chief, recruited from NatWest’s private bank Coutts. CEO Jason Windsor is expanding the executive team to facilitate a turnaround for the British fund manager.

Boylan, presently the CFO at Coutts since September 2023, is anticipated to join Abrdn during the summer. The company had been seeking a permanent replacement for former CFO Jason Windsor, who assumed the role of CEO last year following his predecessor, Stephen Bird.

Abrdn has been grappling with continual net outflows of client funds due to fierce competition from larger U.S. rivals providing cheaper index-trackers. Nonetheless, it provided investors with a more positive outlook in January.

Windsor, who has initiated cost-cutting measures, is expected to present a strategic update for the company alongside the full-year results on March 4. 

Boylan, previously a CFO at wealth manager Brewin Dolphin, has also held senior financial positions at Legal & General and Aviva.

In the interim, Ian Jenkins will remain as the CFO, as per Abrdn's announcement.