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Gilbert to exit Standard Life Aberdeen in 2020

Standard Life Aberdeen PLC Vice Chairman Martin Gilbert is leaving the British asset manager and will not seek re-election at the firm's annual general meeting in May 2020.

He will officially step down Sept. 30, 2020.

As part of the transition, Gilbert will shift his client and key regulatory relationships to executive colleagues and certain public policy and industry body relationships to Chairman Douglas Flint. Standard Life Aberdeen noted that those senior executives reporting to Gilbert will also move their reporting lines under a revised structure.

Gilbert, who co-founded and headed Aberdeen Asset Management prior to its merger with Standard Life in 2017, served as co-CEO of Standard Life Aberdeen alongside Keith Skeoch until stepping down from that post in March, as the company revised its senior leadership structure.

The Financial Times reported in July that British financial technology firm Revolut Ltd. was set to appoint Gilbert as chairman, having already hired him as an adviser in March.