Aberdeen Group plc (LSE:ABDN) has appointed Torbjörn Magnusson to its board as a non-executive director and chair-designate, with his appointment as chair subject to regulatory approvals.
Magnusson is expected to succeed Jonathan Asquith, who has been serving as interim chair and will remain in the position until Magnusson’s appointment becomes effective.
The appointment follows Aberdeen’s announcement last year that Sir Douglas Flint would step down as chair by the company’s 2026 annual general meeting.
“We are delighted to have Torbjörn joining the Board as Non-Executive Director and Chair-designate,” Asquith said. “He is a highly regarded and versatile international business leader who brings more than 30 years of leadership experience spanning a breadth of CEO, Non-Executive Director, and Chair roles across large financial services businesses.”
Magnusson was chair of Nordea Bank Abp from 2019 to 2022 and deputy chair from 2022 to 2023. He also served as chief executive officer and president of Sampo for almost six years until 2025, during which time the company completed its £1.7 billion acquisition of Hastings.
He previously served as president and CEO of If P&C Insurance between 2002 and 2019 and as its chair from 2019 to 2025. Magnusson is currently a non-executive director of Canopius Group and recently stepped down as a non-executive director of Hastings Group.
“Aberdeen has transformed its performance materially over the last few years, building the foundations for long-term value creation,” Magnusson said. “I am very much looking forward to working with the Board, and with Jason and his management team, to help the company continue that progress and achieve its ambitions.”
Magnusson will receive an annual fee of £475,000.
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