Martin Gilbert is to step down from the board of Edinburgh-based investment giant Standard Life Aberdeen to take up the role of chairman at digital bank Revolut, the Financial Times reported on Tuesday, citing sources. 

His departure from Standard Life Aberdeen could be announced as early as Wednesday, the report said. 

His decision to leave Standard Life Aberdeen may have been influenced by a revamped UK Corporate Governance code which states that full-time executive directors should not take on “more than one non-executive directorship in a FTSE 100 company or other significant appointment.”

Standard Life Aberdeen did not immediately respond to the report.