The appointment comes after former CEO Noel Butwell announced his decision to step down from the role earlier this month.

Aberdeen Adviser, the £80.4 billion ($106.9 billion) firm – as at end-2025 – and part of the UK’s Aberdeen Group, has appointed Richard Denning (pictured) as its new CEO. He will succeed Noel Butwell, who announced his decision to step down from the role earlier this month, ending a 23-year career at the UK business.

Butwell will continue to lead the business until Denning’s arrival, which is expected to be in May.

Denning has worked in the advisor sector for over 20 years, holding a number of senior positions across client, distribution and operations, the firm said in a statement. He will arrive from M&G where he has been CEO of its wealth platform, prior to which he had been chief operating officer (COO) at Aegon UK. He was also one of the founders of the Novia platform.

The appointment comes with the advisor platform market evolving at great speed, with consolidation among advice firms, and competition among platform providers.

“Richard’s deep understanding of the market and extensive transformation track record, combined with his strategic and operational experience, make him the perfect fit to take our business to the next level of performance,” Aberdeen Group chief executive Jason Windsor, said. “Following the successful launch of our market-leading Aberdeen SIPP, work continues at pace to further enhance our proposition, continue to improve our service to clients and return to positive net inflows.”

“I am looking forward to building on the work that has already been done to position the business for future growth and to ensuring we deliver the best platform in the market for our clients, at a time when technology and innovation continues to rapidly evolve,” Denning added.

The change in leadership follows a number of senior hires at Aberdeen Adviser over the last 18 months, including Verona Kenny as chief distribution officer, Louise Williams as chief financial officer for Adviser, Derek Smith as the business’s chief product and technology officer and Mark Wilson as Adviser’s chief risk officer.

Aberdeen Group had £556 billion assets under management and administration, as at the end of December 2025. It has a presence in Europe, the Middle East, Asia Pacific, and the Americas.