Aberdeen raids Goldman Sachs for new Asia Pacific chief
Aberdeen Asset Management has appointed Vance Duigan as new chief operating officer for the Asia Pacific region.
Based in Singapore, Duigan has joined the UK investment company from Goldman Sachs Asset Management (GSAM), reporting to Ian Macdonald, deputy head of Asia Pacific at Aberdeen.
Duigan succeeds Andrew Narracott, former COO, Asia Pacific, at the firm, who announced in January that he was to retire from the industry, after ten years with Aberdeen.
During his time at GSAM, Duigan held a number of different positions, including director of investment management operations in Hong Kong and chief administrative officer in Japan, Korea and latterly for Asia Pacific based in Singapore.
Narracott is currently helping to oversee a smooth transition as a director of Aberdeen AM Asia, but it is understood that he will retire sometime before the end of the year, according to various reports.
Aberdeen is presently, as reported, merging with UK insurance group Standard Life. A spokesperson for Aberdeen confirmed the appointment but declined it comment further on how it might affect the merger, if at all.
Post-merger, it is thought that the biggest reduction in staff is likely to come in the UK rather than in Asia, because most of the staff for both companies are based in Britain and that is where most of the role duplication would be likely to be.