Aberdeen Asset Management's acquisition boss is set to take an early retirement, the London-listed firm announced.

Aberdeen Asset Management's head of acquisitions, Hugh Little, is retiring after almost 30 years with the firm.

Little joined the investment manager from the corporate finance division of Ernst and Young in 1987. He was the firm’s ninth employee, working alongside chief executive Martin Gilbert on mergers and acquisitions. Back then, Aberdeen managed under £100 million ($153 million) in assets – this figure has rocketed to £330 billion today.

During his 28-year career with the firm, Little led the private equity business for 16 years before returning to his original role as head of acquisitions. Since 2006, he has managed the group's M&A activity, including last year's buy of Scottish Widows Investment Partnership, which boosted Aberdeen's assets by over £130 billion. 

Over recent years, he steered the 2013 acquisition of Artio Global Investors, which added $14.3 billion in assets, and the 2010 acquisition of RBS’s alternatives fund management business, which added £17 billion. Last month's buy of US private equity firm Flag Capital Management turned out to be the last of his role.

David Boyle, who has been with the firm since 2003, has been appointed to succeed Little as head of acquisitions. Boyle joined Aberdeen as an investment manager on the pan European equity team and has most recently worked within the alternatives team focusing on private equity.

“Hugh has played a significant role in Aberdeen’s growth and success. Without his management skills, commitment and focus, many of the acquisitions which have helped us to grow would not have happened and Aberdeen would not be the financially strong, diversified, global asset management company we are today,” said Gilbert.

“Hugh will be greatly missed and he leaves with our best wishes. We are fortunate though to have someone of David’s calibre to step into the role.”

Following his departure at the end of June, Little plans spend time on non-executive roles. He was recently appointed to the board of a newly listed property fund, Drum Income Plus REIT. He will also remain as a governor and visiting professor at Robert Gordon University.

As of the end of March, Aberdeen Asset Management managed £330 billion in assets on behalf of institutional and private investors.