Aberdeen Asset Management global equity manager Andrew McMenigall and senior relationship manager Toby Wallace have been killed in an accident during a charity cycle.
The pair were cycling from Land's End to John o'Groats to raise funds for the Kirsten Scott Memorial, a trust set up in memory of their former colleague who lost her battle with cancer in October 2011.
The aim of the Trust is to provide grants to young people under the age of 26 in order for them to fulfil ambitions, enhance their personal development, and make a positive contribution, either at home or overseas.
McMenigall (pictured right), who was married with two daughters, joined Aberdeen in 1997 and was a senior investment manager in the global equity team based in Edinburgh. A keen tri-athlete, he graduated as an officer in the British Army from the Royal Military Academy, Sandhurst before completing an MBA at the University of Edinburgh.
Wallace (left) was married and served as a senior relationship manager in Aberdeen's Philadelphia office. He joined the company in 2000 as a graduate trainee from Jesus College, Cambridge.
While at college Toby became a winning blue in the 1998 and 1999 University Boat Races and last year was part of an eight man crew which rowed across the Atlantic to raise money for the charity.
Aberdeen chief executive Martin Gilbert said in a statement: 'I knew both Andrew and Toby well. They were dedicated and popular members of our senior team. The fact that they died in such tragic circumstances while trying to help others less fortunate tells you much about their selflessness and humanity.
'This is a terrible time for the company. More importantly our thoughts are with the families of Andrew and Toby. We will be doing everything we can to support them.'