Martin Gilbert has cemented his return to the investment world with the acquisition of Saracen Fund Managers for £2.75m.
The 65-year-old City veteran and founder of Aberdeen Asset Management announced his intention in January to use Assetco, a London-listed business, to build his new empire.
Business as usual: Martin Gilbert announced his intention in January to use Assetco, a London-listed business, to build his new empire
Gilbert said that Saracen was ‘typical’ of the asset management sector, in that it had good performance but was still very small with just £103m of clients’ money under management.
Gilbert, who left Aberdeen last year having merged it with Standard Life, said: ‘Maybe I’m stupid not to step back. But I quite like the sector. And I’m too young to retire.’
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