Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and 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 From Private Bank to Private Office: the next generation of ultra high net worth investors

From Private Bank to Private Office: the next generation of ultra high net worth investors

Citywire's Anna Dumas highlights the trend towards private and family offices.

Play Inside ETFs: how to defend against bond volatility

Inside ETFs: how to defend against bond volatility

In this latest episode we call in experts from 7IM and Markit to assess how the bond sell-off has impacted ETFs.

Play The future of wealth management according to disruptive tech expert Andrew Tarver

The future of wealth management according to disruptive tech expert Andrew Tarver

Three private office investors direct their questions about the future of wealth management, to Andrew Tarver, founder of Boldrocket and disruptive tech expert.

Your Business: Cover Star Club

Profile: Stenham's CIO on the strange persistence of hedge funds

Profile: Stenham's CIO on the strange persistence of hedge funds

Stenham Asset Management chief investment officer Kevin Arenson believes hedge funds are making a comeback

Wealth Manager on Twitter