![\"\"](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2026\/04\/Jason-Windsor-1.png\")
Aberdeen Group\u2019s chief executive says a \u201cgummed up\u201d planning system casts doubt on Rachel Reeves\u2019 push for more investment by financial institutions into infrastructure and private businesses.<\/p>\n
The Chancellor wants to see more of the funds held by major asset managers, pensions and insurance groups invested into the enterprise economy.<\/p>\n
Following Aberdeen\u2019s AGM in Edinburgh, Aberdeen CEO Jason Windsor was asked if it would change the company\u2019s investment approach.<\/p>\n
\u201cNot really,\u201d he replied. \u201cThey need to change the planning process. It is still gummed up with multiple parties and a lack of clarity about who is the decision maker, and multiple opportunities for different bodies\u2026 councils, quangos, local groups to get in the way of a clear planning process.<\/p>\n
\u201cWe need democracy in action, we need to consult, but we also need a good process, otherwise things take too long. You\u2019ve seen that in data centres.<\/p>\n
\u201cThere is not enough drive from the top to say this is what is acceptable and the basis on which we will approve new developments.\u201d<\/p>\n
Aberdeen Group\u2019s search for a chair also appears to be gummed up after an insider admitted it was proving a challenge to find the right candidate.<\/p>\n
Senior independent director Jonathan Asquith has assumed the role after Sir Douglas Flint stood down following Tuesday\u2019s board meeting.<\/p>\n
Sir Douglas indicated at last year\u2019s AGM that he would be retiring from the role, but the year-long search has not yet yielded a successor.<\/p>\n One source said a candidate had been lined up but was forced to withdraw for personal reasons. <\/p>\n \u201cFinding chairmen is not an easy task for a variety of reasons,\u201d said the source who confirmed that no active negotiations were under way.<\/p>\n Mr Asquith will receive a pro rata fee of \u00a3475,000 but no additional director fees in relation to his other roles in the company during the period of his interim appointment.<\/p>\n He is not being considered for the job permanently because he has already been on the board for seven years and would be time-limited.<\/p>\n Mr Asquith told shareholders at the Assembly Rooms that strong progress was being made by its DIY savings and investment platform interactive investor (ii).<\/p>\n It enjoyed a record year and a record first quarter, significantly outperforming the adviser and investment businesses.<\/p>\n After the meeting, Mr Asquith, who had been involved in acquiring the business for \u00a31.5 billion at the end of 2021, told Daily Business<\/em> that the board was never in doubt about its value, despite concerns at the time that it had overpaid.<\/p>\n \u201cWe always thought it was good value,\u201d he said. \u201cI was part of the board that pursued that transaction. We were very confident in the quality of the business we were buying. We were also confident that\u2026the returns would build substantially within a year or two of buying it.\u201d<\/p>\n Aberdeen Group is the latest name for a company formerly known as Abrdn and, before that, Standard Life Aberdeen. It was noted that ii featured alongside Aberdeen in the banners on stage at the AGM. Given ii\u2019s growing significance within the group, was another change of name imminent?<\/p>\n The joke provoked some laughter and an outright denial. \u201cNo!\u201d said Mr Windsor, stating that Aberdeen Group was the plc, \u201cbut it is important we profile the retail brand. We have half a million-plus customers and its serves us well to get that brand out there.\u201d<\/p>\n Responding to questions about more corporate activity in the sector, Mr Windsor said there would \u201cdefinitely be some\u2026 but we are very comfortable with our own business. We have simplified the group, we have a clear strategy [and] we have ambitious targets.\u201d<\/p>\n Following the acquisition of Aegon UK by Standard Life \u2013 the renamed Phoenix Group \u2013 Aberdeen will see its stake diluted from 10.4% to 8.8%. <\/p>\n Mr Asquith said the board had not considered a bid for Aegon as it was not the right fit for Aberdeen.<\/p>\n \t <\/div>\n![\"Douglas](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2019\/05\/Douglas-Flint-2.png\")