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.

Martin Gilbert sells £4m Aberdeen stake

Martin Gilbert sells £4m Aberdeen stake

Aberdeen Asset Management chief executive Martin Gilbert has sold a £4 million stake in the firm.

According to filing on the London Stock Exchange on 8 February, Gilbert (pictured) sold one million shares at a price of 403.5p each.

The transaction reduces Gilbert's holding to around 7.8 million shares.

The improvement in sentiment in the second half of last year has seen share prices in the asset management sector soar and Aberdeen has been one of the most popular plays.

Shares closed at 403.7p on Friday, leaving them well above a year-low of 237.3p and just shy of a high of 422p, which they hit on 28 January.

Gilbert has gradually been reducing his exposure to Aberdeen recently as part of a mission to diversify his portfolio.

Last September he netted £1.53 million from the sale of 500,000 shares, which he reinvested into farmland.

 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

Wealth Manager on Twitter