Former head of asset management at Aberdeen helps grow business in London

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The board of a London-based industry company has been joined by Martin Gilbert, a Scottish great in the fund management industry.

Gilbert was named Vice Chairman of River and Mercantile, who helped make Aberdeen Asset Management, which he co-founded, a major player in the global industry (RMG).

The appointment comes eight months after Gilbert stepped down from the board of the fund management giant, formed in 2017 by Aberdeen Asset Management and Standard Life’s £ 11 billion merger.

Scottish Head of Investment Steps Down

Jonathan Dawson, Chief Executive of River and Mercantile, said that Mr. Gilbert has enjoyed a “extraordinarily distinguished” career in asset management and would bring considerable industry expertise to RMG’s work.

Mr. Dawson said, “We all look forward to working with him to develop RMG into a substantial growth company,”

Mr. Gilbert described RMG as an organization with great potential and highlighted opportunities through acquisitions to accelerate growth.

As of Sept. 30, the firm had £45 billion in assets under administration.

The time for Scotland to justify its strong status on the global investment stage is now.

“In the current environment, there are market opportunities for RMG, both organically and through acquisitions that can drive shareholder value,” said Gilbert, who helped Aberdeen Asset Management make a series of acquisitions.

In the fund management business, the company’s merger with Standard Life was part of a restructuring process.

Companies used mergers and acquisitions to reach the size that some felt was necessary to compete in global markets while covering increasing regulatory and information technology related costs. Others tried plans for boutiques.

Mr. Gilbert is the chairman of Revolut, a digital banking company, and Toscafund, a wealth management firm. He is a non-executive director of Glencore, the commodities giant.

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