Aberdeen Standard chair to retire

The chair of Aberdeen Standard Investments, Martin Gilbert, is to step down from 30 September, 2020 after a 30-year asset management career.

Gilbert was formerly chief executive of Aberdeen Asset Management which he co-founded in 1983 until its merger with Standard Life in 2017. Following the merger, he became chair of asset manager Aberdeen Standard Investments which has $914 billion in assets worldwide and has clients in 80 countries.

Between now and his departure Gilbert would continue to focus on strengthening the group’s relationship with clients and realising its potential for its global network. He would also transition his client and key regulatory relationships to his executive colleagues.

From 1 January, 2020 he would transition to a four-day week which would see his salary reduce by 20%.

Sir Douglas Flint, chair of Standard Life Aberdeen (the group company), said: “It is impossible to overstate Martin's achievement in building Aberdeen Asset Management into a truly global and widely respected investment firm.  

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“His foresight to see the opportunities that led to the combination that created Standard Life Aberdeen and his tireless efforts to realise these opportunities post-merger are hugely valued by all his colleagues who now take up the responsibility to deliver on them.”

Gilbert said: “For more than 30 years, I have been fortunate to have worked with brilliant people all across the company, and I would like to take this opportunity to thank all my colleagues – past and present – who have supported me on this journey.  

“I will leave the company in extremely good hands, and well positioned for further growth and prosperity.  

“I am very proud of our achievements over the past three decades, but I still have a great enthusiasm for growing and guiding businesses and I am looking forward to fresh challenges in the next stage of my career.”