Abrdn’s chief financial officer, Stephanie Bruce, has agreed with the board that she will not seek re-election at the firm’s annual general meeting on 10 May.
Her departure follows press speculation in December regarding succession planning for the CFO role. At the time, Abrdn said ‘the board regularly reviews succession planning with and for the executive team. Stephanie Bruce remains our chief financial officer and no decisions have been taken regarding any change while succession planning is underway’.
It has now been confirmed that she will step down as CFO and as a director of Abrdn at the conclusion of the AGM.
Bruce will remain with the group until 31 December 2023 to support an orderly transition. An announcement regarding her successor will be made in due course.
Abrdn chair Douglas Flint said: “On behalf of the board I would like to thank Stephanie for everything she has achieved at Abrdn over the last four years. This has been a period of major transformation and she has contributed significantly to that journey, leading the communication of our financial performance while ensuring that the Group maintained and reinforced its strong capital position. She leaves in due course with our best wishes as she builds her career outside the group.”
Bruce, who previously worked at PwC between 2002 and 2019, added: “I am immensely proud that during my time at Abrdn, despite the backdrop of significant external headwinds, we have strengthened the balance sheet, invested in scale and capabilities, returned significant capital to shareholders and, with the commitment and determination of so many colleagues, focused relentlessly on our clients and our shareholders.
“Today the group is in a stronger position to build on these foundations with a more diversified profile for its next phase of growth.”
See also: Abrdn sheds DFM business as it reveals stinging losses
