The chairman will accept the same title at fintech firm Revolut

Martin Gilbert is not seeking re-election as chairman of Aberdeen Standard Investments. Instead, he will also depart his role vice-chairman of parent company Standard Life Aberdeen on Sept. 30, 2020. He is poised to join fintech firm Revolut in the future.

Gilbert co-founded the company in 1980 and helped steer its merger with Standard Life in 2017.

“I will leave the company in extremely good hands, and well positioned for further growth and prosperity,” Gilbert said. “I am very proud of our achievements over the past three decades, but I still have a great enthusiasm for growing and guiding businesses.”

Gilbert was the co-CEO of the firm with Keith Skeoch until earlier this year. However, Standard Life Aberdeen had dissolved that role and left Skeoch as the firm’s CEO.

Martin Gilbert moves on to Revolut

Gilbert could have sought reelection during the firm’s annual meeting in May 2020.  

However, the firm has faced pressure since its merger with Standard Life.

In a statement, Standard Life Aberdeen chairman Sir Douglas Flint said: “It is impossible to overstate (Gibert’s) achievement in building Aberdeen Asset Management into a truly global and widely respected investment firm. 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.”

The release continued: “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.”

Gilbert won’t have to wait long to start work again. He will become the new chairman of fintech startup Revolut.