The Business On: Martin Gilbert, Chief executive, Aberdeen Asset Management
Tuesday 06 December 2011
Still battling through?
Very much so. Much of the City may be gloomy, but not so Aberdeen: it unveiled a 29 per cent rise in its dividend yesterday, paid for by a 39 per cent increase in profits.
New clients flooding in?
Not exactly – assets under management have fallen this year, thanks to fund outflows and market volatility. But business leaving has been replaced by higher-margin arrivals, particularly the pooled fund mandates the firm has won.
So Mr Gilbert is happy?
Yes. These results are further vindication for his strategy of organic growth: he opted out of the race to buy Gartmore last year, for example.
Has he always been so wise?
Maybe not. Aberdeen's expansion into split-capital investment trusts happened on his watch. When the splits collapsed, it emerged many savers had thought they were very low-risk and providers such as Aberdeen took a beating.
How did he bounce back?
Well, Aberdeen certainly copped its share of the flak, with Mr Gilbert accepting a public dressing down from MPs on the Treasury Select Committee and the share price collapsing. But he hunkered down, extricated the company from the splits business and changed its emphasis.
Job done, then?
He shows no sign of slowing down – he's just accepted a non-executive post at BSkyB.
What else should we know?
He's an excellent golfer, loves to ski – and was a classmate of former chancellor Alistair Darling at Aberdeen University.
- 1 Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
- 2 Chelsea victory parade: Chelsea mocked on Twitter as 'tens of fans' pack the streets of London
- 3 US warned by Chinese media to stop meddling or 'war will be inevitable'
- 4 Woman, 21, dies after taking contraceptive pill that 'caused fatal blood clot'
- 5 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
US warned by Chinese media to stop meddling or 'war will be inevitable'
How China's richest man Li Hejun lost $15bn in an hour - and made a fortune
Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Snoop Dogg on why he doesn't regret displaying misogyny towards women
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
A nation of inequality: How the UK is failing to feed its most vulnerable people
EU referendum: David Cameron to deny EU migrants and under-18s the chance to vote
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...