Finance

Martin Gilbert to step down from Standard Life Aberdeen in September 2020

Key Points
  • Standard Life Aberdeen says Vice Chairman Martin Gilbert will not seek re-election to the board at its next annual meeting and is leaving in 2020.
  • SLA says Gilbert will still continue to focus on strengthening relationships with clients and winning new business until his departure.
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Standard Life Aberdeen's Martin Gilbert to step down

Veteran investor Martin Gilbert is stepping down from Standard Life Aberdeen from September 2020, the company said on Wednesday, ending a career spanning more than three decades in charge of one of Britain's most successful asset managers.

The 500 billion pounds ($613.05 billion) fund firm said Gilbert, who has served as vice-chairman since a 2017 merger with Standard Life, would not seek re-election to the board at its annual meeting in May, and would leave in September.

"It is impossible to overstate Martin's achievement in building Aberdeen Asset Management into a truly global and widely respected investment firm," SLA Chairman Douglas Flint said in a statement.

Martin Gilbert, chief executive officer of Aberdeen Asset Management Plc, speaks during an interview in London, U.K., on Monday, May 16, 2016.
Jason Alden | Bloomberg via Getty Images

"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."

Until his departure, SLA said Gilbert would continue to focus on strengthening relationships with clients, winning new business and realising potential from its global network and capabilities.

His key client, industry and regulatory relationships would be transferred to Flint.

"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 pounds under management," Gilbert said.

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

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