Investment and wealth manager Abrdn has picked Jason Windsor, currently interim group chief executive, as its new £800,000 a year group CEO.

The appointment is subject to regulatory approval.

Mr Windsor, formerly Abrdn's group chief financial officer, will earn a basic salary of £800,000 a year from this month with details of his remuneration package to be disclosed in the 2024 Annual Report and Accounts.

The company began a search for a new group CEO in May after predecessor Stephen Bird decided to step down after four years at the helm.

The company said at the time it had agreed with Mr Bird that it was the right time for the business to seek “fresh leadership.”

In February Abrdn reported that it had made a pre-tax loss of £6m last year, a major turnaround from the hefty £546m loss posted the previous year. Heavy cost cutting at the firm had aided its recovery, the company said.

Mr Bird's remuneration package last year was worth £2.143m, according to the 2023 Annual Report and Accounts.

Abrdn said its fresh leadership follows, “ the strategic repositioning of the company to a specialist asset manager, and a digitally-focused wealth manager.”

Mr Windsor said: "I am honoured to have been chosen to lead Abrdn. I see significant headroom in each of our three core businesses, with the potential to generate a step-change in performance for our clients and customers, and for our shareholders.

“My job now is to work with the talented team at Abrdn to realise this opportunity and to build a more efficient, growing business with a culture that sustains long-term success."

Sir Douglas Flint, Abrdn chairman, said: "I am delighted that Jason emerged from what was a very thorough process as the unanimous choice of the board to lead abrdn in its next phase.  He has made a huge impression both internally and externally since he joined Abrdn, particularly as someone whose actions evidence he cares deeply about our clients and customers and our people." 

Ian Jenkins will continue in the role of Abrdn's interim group chief financial officer.  A search process for a permanent appointment into the group chief financial officer role will now begin.

Mr Windsor, an Oxford graduate, previously worked as group chief financial officer at Persimmon plc. Previously he spent over a decade working at Aviva Group, latterly as group chief financial officer.  He joined Aviva in 2010 as group strategy and M&A director, following a 15-year career at Morgan Stanley in London and Singapore, where he was most latterly managing director within its investment banking division advising financial sector clients.