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Thursday, July 25, 2019

An Ex-Fundster Chief May Not Leave After all

News summary by MFWire's editors

A former chief fundster may be leaving a multinational giant soon, or maybe not.

Martin James Gilbert
Standard Life Aberdeen plc
Vice Chairman
On Tuesday, the Financial Times reported that Martin Gilbert, vice chairman of the board of Standard Life Aberdeen (parent of Aberdeen Standard Investments), will step down from the Scottish multinational in advance of his widely reported upcoming move to take over as chairman of a fintech banking startup, Revolut. Yet yesterday, a Standard Life Aberdeen spokesman told Financial News that the report of Gilbert's impending departure was inaccurate.

"If the company had any announcements to make as regards its executive team then it would do so through the proper channels," the spokesman told FN. "As policy we don't comment on rumor and speculation."

Gilbert, a Malaysian-born Brit, co-founded Aberdeen Asset Management in 1983. The Scotland-based, multinational asset manager merged with another Scottish company, Standard Life, in 2017, creating Standard Life Aberdeen plc (and its asset management arm, Aberdeen Standard Investments). After the merger, Standard Life chief Keith Skeoch and Gilbert served as co-CEOs of the combined firm until earlier this year, when Gilbert shifted to vice chairman and executive director while Skeoch took over as sole CEO. 

Edited by: Neil Anderson, Managing Editor

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