Aberdeen Standard Investments has announced that Harry Nimmo will step down as head of smaller companies after almost three decades in the role.

Nimmo will be replaced by Andrew Paisley, who is currently deputy head of smaller companies at the £526bn asset manager. However, Nimmo will continue to manage Aberdeen Standard Investments’ UK Smaller Companies fund, the Standard Life UK Smaller Companies Trust and other UK smaller company portfolios. He will also co-manage the company’s soon-to-be-launched Global Mid Cap strategy alongside Anjli Shah.