Abrdn's CEO of Discretionary Richard Charnock set to retire

Richard Charnock, CEO Discretionary at abrdn, is set to retire and will be stepping down from his role in April, abrdn has revealed.

Charnock (pictured) is CEO of abrdn Capital, the discretionary investment management services arm of the investment and life giant, which offers services to the wealth sector in the UK and the Channel Islands.

David Driver will become head of Discretionary after a period of handover, the company said. Driver has been a director of the Discretionary business at abrdn for 12 years and has held discretionary investment management and private client leadership roles for more than 20 years.

Charnock said: "I have been very privileged to lead the Discretionary business since inception in 2007 and I remain proud of the team and of all they have achieved on behalf of our clients. However I have decided to retire from abrdn in April this year - I will be leaving the business in very good hands with minimal changes which of course means that your primary contact will remain the same."

An abrdn spokesperson said: "Richard has been with the firm for many years, building up an extremely successful and well-respected discretionary business. He is known and admired across abrdn and the wider industry, and we wish him well in his retirement."

He is also director of abrdn Capital International Limited, and a non-executive director of HDFC International Life and Re Company. Charnock joined abrdn in 2007, which was then Standard Life.

He was a member of Standard Life's UK executive board from 2010 to 2014 and subsequently became managing director of the adviser and investment business of Standard Life in the UK.

Charnock was responsible for all Standard Life retail channel activity in the UK and Ireland and was CEO of Standard Life Savings, overseeing the Wrap platform and Fundzone businesses. He was also an executive director of Standard Life Investments from 2014 to 2018.

Earlier in his career, Charnock was CEO of Williams de Broe and prior to that he was CEO of Lloyds TSB Private Banking, Lloyds TSB IFA and Lloyds TSB Stockbrokers.