Aberdeen Asset Management has appointed James Hughes to the newly created role of head of insurance solutions within its investment solutions business.
Hughes will take a leading role in building and delivering bespoke and pooled multi-asses solutions for insurance clients, working in close partnership with the insurance specialist team in Aberdeen’s distribution division.
Prior to his new role, Hughes worked at Gottex Asset Management where he served as managing director of multi-asset solutions.
Aberdeen has created the new head of insurance solutions role to capitalise on growth in insurance assets, which those under management at third-party fund managers set to double to almost €1 trillion over the next 10 years, according to consultancy firm Spence Johnson.
Solvency II is also expected to mean more assets will be outsourced to fund managers, according to Aberdeen.
Archie Struthers, global head of investment solutions at Aberdeen, commented: "Building and managing portfolios for insurance clients is a core part of Aberdeen’s overall investment platform. The evolving regulatory and capital markets environment we believe means insurers around the world will seek bespoke multi-asset solutions that deliver attractive capital-adjusted and risk-adjusted returns.”
He added: “We are delighted to have attracted someone of Hughes’ calibre. [His] experience and expertise is complementary to our existing insurance-related team and will ensure we continue to be well placed to provide insurance clients with the bespoke investment solutions that they require.”
