Standard Life Aberdeen vice chairman retiring in 2020

Departing executive has been a director since 1983

Standard Life Aberdeen vice chairman retiring in 2020

Insurance News

By Terry Gangcuangco

Standard Life Aberdeen (SLA) vice chairman Martin Gilbert (pictured), co-founder and former chief executive of SLA predecessor company Aberdeen Asset Management, is retiring next year after having been a director since 1983.

“After an outstanding career with both the company and earlier with Aberdeen Asset Management, Martin Gilbert has advised that he will not seek re-election at the company’s annual general meeting, scheduled for May 12, 2020, and with the board's agreement he will retire from the company on September 30, 2020,” announced SLA.

Senior executives currently reporting directly to Gilbert will move their reporting lines under a revised structure, as the stalwart transitions his client and key regulatory relationships to colleagues. Meanwhile certain key public policy, industry body relationships will be transitioned to SLA chairman Sir Douglas Flint, who has nothing but nice words for Gilbert.

“It is impossible to overstate Martin’s achievement in building Aberdeen Asset Management into a truly global and widely respected investment firm,” stated Flint. “His ability to attract talent to deliver that success and his unrelenting commitment to the firm’s clients leave a legacy of which he should be immensely proud and which serves as a solid foundation for our future success.

“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. On behalf of the board and fellow shareholders, I would like to thank Martin for his dedicated service and contributions to Standard Life Aberdeen, particularly as it came together after our merger in August 2017.”

The merger saw Gilbert’s appointment as SLA director and co-chief executive. Earlier this year he was named vice chair as well as Aberdeen Standard Investments chairman.

Looking back, the seasoned executive had this to say: “It has been an incredible journey, almost unimaginable from the earliest days when we were just three people in one office in Aberdeen with £50 million under management to today’s total in excess of £500 billion.

“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.”

Gilbert – who, according to a report by The Telegraph, is slated to become chairman at fintech Revolut – added that SLA will always be close to his heart and wished everyone associated with the firm “all the very best” for the future.

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