Key facts
- Aberdeen Group has appointed Torbjörn Magnusson as its new chair.
- Magnusson brings over 30 years of financial services leadership experience.
- He previously held leadership roles at Sampo, Hastings Group, and Nordea Bank.
- Magnusson's appointment concludes a rigorous search process for the UK asset manager.
- His annual fee as non-executive director and chair-designate is £475,000.
Aberdeen Group has appointed Torbjörn Magnusson, an executive with over three decades of experience in financial services, as its new chair. The appointment, effective immediately, concludes a comprehensive search process for the UK asset manager.
Magnusson succeeds interim chair Jonathan Asquith, who stepped in after Sir Douglas departed the role following the annual general meeting in April 2026. Sir Douglas had announced his departure in April 2025.
Magnusson's extensive background includes significant executive and board roles at Sampo, Hastings Group, and Nordea Bank. He served as chief executive and president of Sampo for nearly six years, stepping down in 2025 after transforming the business into one of the Nordic region's largest financial services groups. During his tenure, he led Sampo's £1.7 billion acquisition of Hastings, bolstering its UK market presence.
Previously, Magnusson was president and chief executive of If P&C Insurance from 2002 to 2019, and served as its chair from 2019 to 2025. He also chaired UK digital insurer Hastings Group and Danish insurer Topdanmark. Currently, he is a non-executive director at global specialty (re)insurer Canopius.
Asquith highlighted Magnusson's strong track record in delivering growth and shareholder value, his understanding of the financial services industry's evolving dynamics, and his experience within the UK regulatory framework. Magnusson expressed enthusiasm for Aberdeen's role in helping clients achieve financial goals and noted the company's transformed performance and foundations for long-term value creation.
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