Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Gilbert: Aberdeen has no plans to relocate Scottish HQ

Gilbert: Aberdeen has no plans to relocate Scottish HQ

Aberdeen Asset Management's chief executive has said the company has 'no plans' to move its headquarters out of Scotland if the referendum results in independence.

'We haven't planned for any changes because we're of the view there'll be plenty of time to plan after the event,' Martin Gilbert (pictured) told BBC radio's Good Morning Scotland programme.

'We've also decided as a company that we will remain neutral on the subject, because it is a decision for the Scottish people and, to a certain extent, there's quite a lot of resentment if a business leader or a company does come out and give an opinion, so I think it's very much remaining neutral on the subject and let the people decide in September and, once we know that, we will see what is needed,' he added.

'But, at the moment, we have no plans to move our headquarters out of Aberdeen - we already operate in 30 countries round the world, so one more's not going to make any difference.'

His comments contrast with Standard Life, which said it had started preparations to move from Scotland to England as a precautionary measure.

Meanwhile Dundee-based Alliance Trust has started registering companies in England amid the 'uncertainty'.  

Aberdeen's recent acquisition of Scottish Widows Investment Partnership has made it the biggest asset manager in Europe, with £324 billion assets under management.

Half-yearly results out earlier this week showed Aberdeen suffered £8.8 billion in outflows as emerging markets fell out of favour in the second half of last year.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter