PHILADELPHIA, Jan. 13, 2015 /PRNewswire/ -- Aberdeen Asset Management Inc. ("Aberdeen") today announced that Paul Atkinson, Philadelphia-based Head of North American Equities, will be leaving Aberdeen and returning to Europe with his family at the end of June 2015. Aberdeen is a subsidiary of Aberdeen Asset Management PLC, the global asset manager with more than $525 billion in assets under management as of September 30, 2014.
Ralph Bassett, Deputy Head of North American Equities, will succeed Paul as Head of North American Equities upon his departure at the end of June. Ralph joined the North American Equity team in 2006 and was appointed by Paul as Deputy Head of the team in 2012. Ralph will assume leadership of the team comprised of 13 investment professionals that will continue to apply Aberdeen's bottom-up fundamental investment process in managing the company's North American equity portfolios.
Hugh Young, Global Head of Equities at Aberdeen Asset Management, comments:
"It will be sad to see Paul go, but he will leave in June with our thanks and best wishes for the future. Ralph is the obvious successor given his current role and his experience within Aberdeen. Our collegiate and consistent approach to investing will ensure a smooth transition and a continued focus on bottom-up fundamental company research."
Paul and Ralph will continue to work closely together, as they have done for the past nine years, to ensure an orderly transition of our North American equity business. The Aberdeen team's bottom-up fundamental investment process in managing the Company's portfolios remains unchanged.
Aberdeen Asset Management PLC
Aberdeen Asset Management PLC is an asset management company. Formed out of a management buy-out in Aberdeen, Scotland, in 1983, we are now a FTSE 100 company operating on-the-ground in over 25 countries across Europe, Asia and the Americas.
We are defined by our pure focus on asset management, including equities, fixed income, property and multi-asset portfolios. All our investment solutions are driven by our commitment to straightforward, transparent investment approaches that stress intensive, first-hand research and a long-term view.
As of September 30, 2014, we manage assets of more than $525.9 billion on behalf of institutional and private investors.
In the United States, Aberdeen Asset Management (AAM) is the marketing name for the following affiliated, registered investment advisers: Aberdeen Asset Management Inc., Aberdeen Asset Managers Ltd, Aberdeen Asset Management Ltd and Aberdeen Asset Management Asia Ltd, each of which is wholly owned by Aberdeen Asset Management PLC. "Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.
SOURCE Aberdeen Asset Management Inc.