Caroline Connellan joins Abrdn to lead its personal wealth business


Abrdn names Caroline Connellan as Chief Executive Officer of its personal wealth business, with immediate effect

Photo: Standard Life Aberdeen confirm Ms. Connellan's appointment
Photo: Standard Life Aberdeen confirm Ms. Connellan's appointment

October 19, 2021 -- The former Head of Brooks Macdonald, Caroline Connellan has now joined abrdn as its new Chief Executive of personal wealth, the company confirmed in a press statement. Ms. Connellan will be based in London, and will report directly to abrdn's Chief Executive Officer, Stephen Bird. Ms. Connellan will also be a member of abrdn's Executive Leadership team.

Ms. Connellan, who joins abrdn from leading UK investment management firm Brooks Macdonald where she was previously CEO, has held senior private wealth roles chiefly at HSBC where she was Head of UK Wealth and Premier, with previous career experiences also obtained through her time in roles at both Standard Life and McKinsey & Company.

Photo: Caroline’s appointment comes at a key juncture as SLA looks to significantly grow Personal Wealth under its recently announced unifying single brand Abrdn
Photo: Caroline’s appointment comes at a key juncture as SLA looks to significantly grow Personal Wealth under its recently announced unifying single brand Abrdn

At Brooks Macdonald, Ms Connellan had overseen a strong year-on-year growth in Funds Under Management, revenue and profit as well as executing key acquisitions and driving significant transformation to support the success of the business.

Stephen Bird CEO, Standard Life Aberdeen commented on Ms Connellan's appointment:

"I am delighted that Caroline will be joining us. She is an outstanding talent with clear and proven ability in building exceptional wealth management businesses, both organically and via acquisition. Critically, she has a deep customer-centric mindset and extensive experience in creating compelling and innovative offerings. 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."

Caroline Connellan, CEO of Private Wealth as abrdn, added:

"It's an exciting time to be joining SLA given its ambitions and commitment to the growing wealth market. 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."

About abrdn

At abrdn, we empower our clients to plan, save and invest for their futures. We structure our business into three areas - and together they reflect our focus on enabling our clients to be better investors: 

Adviser: We offer market-leading platform technology and tools that enable UK wealth managers and financial advisers to look after the diverse needs of their clients.

Personal: We help people throughout the UK plan for their financial futures - through our financial planning business, our digital direct-to-consumer services and discretionary fund management services. 

Through the expertise, insight and innovation of our team, we aim to help clients create more ways for money to make an impact. We set our sights on giving them more confidence to achieve their goals, and more clarity about what they need next. And we focus on delivering outcomes that are more than just financial - by investing sustainably to build a better world.

We're a global business. We manage and administer £532 billion of assets for our clients, and we have over 1 million shareholders. (Figures as at 30 June 2021)