MOVES-Aberdeen Standard picks UBS' Buehlmann to replace Young as Asia CEO

LONDON, Jan 25 (Reuters) - British asset manager Aberdeen Standard Investments said on Monday that former UBS banking and asset management executive René Buehlmann would replace Hugh Young as head of its Asian business.

Young, who has been with the Scottish company for 35 years, will take on a new role as regional chairman, Aberdeen Standard said in a statement.

The move marks one of the first major personnel changes for Aberdeen Standard since the arrival of Stephen Bird as company chief executive in late 2020, as he looks to reverse sluggish performance since the company was formed through a 2017 merger.

Buehlmann was most recently Head of Asset Management Asia Pacific and Global Head of Wholesale Client Coverage at UBS, where he spent 29 years working across wealth and asset management, corporate banking and financial markets.

Buehlmann, who will be based in Singapore and takes up his new role on March 1, joins as the company looks to expand in the region.

“The Asia Pacific region is core to Standard Life Aberdeen’s growth strategy,” Bird said in the statement.

“René’s wealth of experience in asset and wealth management, deep knowledge of key client segments and a proven record of developing a strategic business will support our growth ambition.” (Reporting by Simon Jessop; Editing by Kirsten Donovan)