GLOBAL – Andrew Smith, global head of property at Aberdeen Asset Management has left the company by "mutual consent".

The departure follows this week's announcement that Aberdeen is acquiring Scottish Widows Investment Partnership (SWIP), a merger that will create a €28bn property fund management business.

Aberdeen said in a statement: "Andrew Smith has left Aberdeen Asset Management by mutual consent to pursue opportunities elsewhere in the industry.

"We are grateful to Andrew for this efforts in running the division over recent years and wish him well for the future."

Smith's role has been split between Pertti Vanhanen, group head of property, and Russell Chaplin, CIO of the property team.

Pertti, who was head of fund management, property and a member of Aberdeen's property team executive board, will be responsible for the business side of Aberdeen's real estate division.

It is still not clear what the merger will mean for Lynda Shillaw, director of real estate at SWIP, who has overall responsible for the real estate business.