Standard Life Aberdeen has appointed Caroline Connellan as chief executive officer of Personal Wealth, as part of its three-pronged strategy to grow its asset management, adviser and personal wealth businesses.
Connellan (pictured) joins the company from wealth manager Brooks Macdonald Group plc where she has been CEO since early 2017. Prior to this, Caroline held key senior roles at HSBC, including Head of UK Premier and Wealth, and also consulted across the asset management and wealth sector with McKinsey. Her earlier career included roles with Standard Life and as a Private Client Fund Manager with Newton Investment Management.
Standard Life Aberdeen’s Personal Wealth business includes 1825 Financial Planning and it’s direct-to-customer propositions including Digital Retirement Advice. Standard Life Aberdeen said Connellan’s appointment comes at a “key juncture” as the company looks to “significantly grow Personal Wealth under its recently announced unifying single brand Abrdn”.
Talking to the company’s growth strategy, Stephen Bird CEO, Standard Life Aberdeen said: “Earlier this year, we outlined our strategy for growth encompassing three vectors; asset management, adviser and personal.
“ Alongside significant investment in asset management and our adviser support business, our intention is to build a market-leading wealth management proposition to capture value in the growing savings and pre-retirement market. 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.”
Connellan added: “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.
“There is an increasing need for individuals to save for the future, particularly for retirement, in a way that works for them – I believe we can play an important role in this, through a market-leading offering, digital innovation and strong customer relationships. I’m hugely looking forward to joining the leadership team at SLA and playing my part in leading the change over the coming years.”