Steen Foldberg becomes Aberdeen’s Luxembourg head

Luxembourg_mapSteen Foldberg, formerly of Julius Baer, has joined Aberdeen Asset Management as head of the firm’s Luxembourg office, which it has operated in the Grand Duchy since 2006.

Foldberg also becomes managing director of Aberdeen Global Services, the group’s principal cross-border management company.

He takes over the chief Luxembourg role from Gary Marshall, who remains as the company’s head of product and will be head of Europe, Middle East and Africa in the combined Aberdeen-Standard Life business.

Marshall said the appointment reflected the company’s commitment to building its Luxembourg operation and that the office would be “crucial” in the combined business.

Aberdeen manages over 90 funds from Luxembourg with assets under management of around €57 billion.

Foldberg was a managing director at Julius Baer and said it was an exciting time in Aberdeen’s history.

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