Steyn replaces Gary Marshall, who will return to the UK after four years of running and developing Aberdeen's business in the Americas.

Aberdeen said that details of Marshall's new position will be revealed at a later date.

Steyn has more than 30 years of experience in the investment industry, based in both the UK and US.

He joined AllianceBernstein Holding in 1999 and served as its chief operating officer from 2009 to 2012.  

He has previously run both fixed income and equity investment teams in the UK and the US with firms such as Quaestor, Lazard and Montagu. Before this, he was a fixed income portfolio manager at Montagu.  

Marshall has been with the Aberdeen Group since 1997 and is a member of Aberdeen's group management board. He was appointed head of Americas in January 2010 and is also chief executive of Aberdeen Asset Management Inc in US and president of Aberdeen's US mutual fund range, Aberdeen Funds.

He began his career in 1983, working in marketing and product development at Scottish Provident. After becoming development director there, he joined Aberdeen via the acquisition of Prolific Financial Management in 1997.