Aberdeen appoints first ‘head of digital’

Aberdeen Asset Management has announced the appointment of Martin Jennings to the newly created role of head of Aberdeen digital, a distinct division within the firm.

The investor said that Mr Jennings, who joins from FNZ UK, will “develop and implement a business plan to allow Aberdeen to capitalise on the changes which new technology are bringing to the fund management industry” and “bring together the strengths of Aberdeen’s global distribution platform, full range of products with a focus on Investment Solutions, and logistics capabilities”.

Aberdeen said he will be responsible for the recently acquired Parmenion, which provides Discretionary Fund Management and platform services into the UK IFA market.

Parmenion recently won the‘Professional Adviser – Best Platform for DFM and Best DFM Provider’ for 2016 and is a member of the ‘Fintech 50 2015’.

Mr Jennings will also oversee Aberdeen’s joint venture with Hymans Robertson that was announced in 2015. This platform aims to help individuals meet their savings objectives whether through the workplace or as individuals.

He will report to chief executive Martin Gilbert, and Iain Plunkett, chief operating officer & chief technology officer, and will join Aberdeen’s Group Management Board.

Mr Gilbert said: “Martin’s recruitment emphasises further Aberdeen’s commitment to capitalise on the huge technological change the asset management industry is facing and our desire to place platform services at the heart of our business model. In creating a distinct division, we aim to create a culture that can foster innovation, agility and client services.”

Mr Jennings, who has a track record of senior positions in the financial service platform and technology market including chief executive of FNZ in the UK and Australia, before joining FNZ, said: “Financial services is changing very rapidly. Not least because digital technology is forcing companies to change what they do; and other companies are emerging, like Parmenion, whose success is down to embracing new technology. Aberdeen wants to be one of the leaders as the world of asset management is challenged, seeing disruption as more of an opportunity rather than a threat . The changing landscape and Aberdeen’s ambition make this role unique. That’s really exciting and I’m delighted to be joining Martin, Iain and the rest of the Group Management Board.”