Standard Life Aberdeen chair steps down

The co-founder of Standard Life Aberdeen is stepping down from his position as chair of the Standard Life Aberdeen board.

Martin Gilbert advised he will not seek re-election at the company's annual general meeting in May next year and agreed with the board he will retire at the end of September 2020.

Commenting on the move, which comes after almost four decades with the company, Aberdeen Asset Management chair Douglas Flint said: "It is impossible to overstate Martin's achievement in building Aberdeen Asset Management into a truly global and widely respected investment firm."

He explained that Gilbert leaves a strong legacy for Aberdeen Standard.

"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," 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 thanked Gilbert for his contribution on behalf of the Standard Life Aberdeen board and shareholders.

Gilbert said: "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.

"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.

"Nevertheless, Standard Life Aberdeen will always be close to my heart, and I wish everyone associated with the company all the very best for the future."

Read more: Standard Life AberdeenAberdeen Asset ManagementMartin GilbertDouglas FlintGilbert for
Link to something 4qnwzTCJ