Andrew Paisley has been named as Aberdeen Standard Investments’ global head of smaller companies, succeeding Harry Nimmo who will “step away from the people and commercial management responsibilities” after 27 years in the role.
Nimmo will continue to manage the ASI UK Smaller Companies fund, Standard Life UK Smaller Companies trust and other UK smaller company portfolios, and will also co-manage the upcoming launch of a global mid-cap strategy alongside Anjli Shah.
The Global Mid Cap strategy, which is set to be launched in this quarter, will have a concentrated portfolio of stocks displaying growth and momentum characteristics, with "stock-specific risk" the "primary driver of portfolio returns".
Paisley will be succeeded in his current role as deputy head of smaller companies by manager of the Aberdeen Smaller Companies Income trust Abby Glennie.
From 31 March Glennie and Paisley will be responsible for the management of an eight-strong team, the commercial strategy and will also represent the smaller companies team on the ASI Equities Management Committee.
Further changes to the smaller companies team will see Kirsty Desson appointed as co-manager of the Global Smaller Companies OEIC and SICAV alongside Alan Rowsell.
Nimmo (pictured) said: "After over a quarter of a century in this role, it is the right time to hand the baton to Andrew who will do a fantastic job alongside Abby.
"I am looking forward to focusing on my UK smaller companies portfolios and working with Anjli on the new global mid-cap strategy.
"The strategy is ideally placed and will be able to leverage the team's insights, including detailed information on strong-performing small cap stocks that have graduated to mid-cap status."
Global head of equities Devan Kaloo described Paisley are "the natural choice to succeed" Nimmo, having "played an important part in developing and growing our smaller companies business".
Paisley added: "The experience and expertise of the team and the strength of investment process reflected by the outperformance of our UK, European and global smaller companies strategies means we are well placed to continue to deliver for our clients and investors."