2nd Oct 2019 07:46
(Alliance News) - Standard Life Aberdeen PLC said Wednesday former co-boss and current Vice Chair Martin Gilbert will retire from the insurer and asset manager in September 2020.
Gilbert co-founded Aberdeen Asset Management in 1983. In 2017, Aberdeen Asset Management merged with Standard Life PLC to become Standard Life Aberdeen PLC, with Gilbert assuming the role of co-chief executive officer of the combined group.
Gilbert stood down as co-boss of FTSE 100-listed Standard Life Aberdeen in March, becoming vice chair.
On Wednesday, Standard Life Aberdeen said Gilbert will not seek re-election at its annual general meeting in May 2020. He will then retire from the firm at the end of September 2020.
Ahead of his retirement, Gilbert will continue to focus on strengthening client relationships and winning new business. He will also "progressively" transition key client and regulatory relationships to key executives at Standard Life Aberdeen and others to the chair.
"It is impossible to overstate Martin's achievement in building Aberdeen Asset Management into a truly global and widely respected investment firm," Standard Life Aberdeen Chair Douglas Flint said.
"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," Flint added.
In July, the Financial Times had reported that Gilbert would be stepping down from his role at Standard Life to become chair of digital bank Revolut.
By Ahren Lester; [email protected]
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