Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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 Dispelling the sustainable investing myths

Dispelling the sustainable investing myths

There's a bit of a buzz around sustainable investing at the moment. We speak to three wealth managers to find out what they think.

Play Inside ETFs: positioning for the Fed rate rise

Inside ETFs: positioning for the Fed rate rise

Natalie Fast discusses how investors are using ETFs to position for a rate rise with guests Irene Bauer from Twenty20  Investments and Markit's Simon Colvin.

Play Wealth Manager Retreat: video highlights

Wealth Manager Retreat: video highlights

The UK's leading wealth management talent gathered at our annual event at the Grove celebrate the best in private client portfolio management.

Wealth Manager on Twitter