Aberdeen Asset Management has appointed Andrew Smith as group head of property to lead the further development of Aberdeen's property business.
Mr Smith succeeds Rickard Backlund who has decided to step down from full time executive responsibility in September 2010.
Mr Smith joined Aberdeen in 2002 as head of investment strategy, since that time he has held a number of management positions covering both direct and indirect property, most recently as chief investment officer and head of fund management in the property team.
Martin Gilbert, CEO of Aberdeen Asset Management, said: “Andrew was the natural choice to succeed Rickard given his experience, knowledge of all aspects of our property division and industry profile. He takes over at a time of increased investor interest in property and in particular our own products. I am delighted that Rickard has agreed to stay with us for the long term to help consolidate what has been achieved to date.”