Digital bank account provider Revolut has confirmed long-standing speculation by announcing it has appointed former Standard Life Aberdeen co-chief executive Martin Gilbert as its chairman.

Gilbert, 64, co-founded Aberdeen Asset Management and led that firm for 34 years until its merger with Standard Life in 2017 — and he initially served as co-chief executive of Standard Life Aberdeen with Keith Skeoch.

Standard Life Aberdeen said on October 2 that Gilbert, its vice chairman, will not seek re-election at the company’s annual general meeting scheduled for May 12, 2020, and will “retire” from the company on September 30, 2020.

The ebullient Gilbert is one of the global asset management industry’s most prominent executives.

Revolut said Gilbert will take up his new role in January and has already been advising Revolut CEO Nikolay Storonsky.

Revolut is expanding globally and has partnerships with payments firms Visa and Mastercard. 

The fintech firm aims to undercut traditional banks on pricing for foreign exchange purchases, stock trading and money transfers.

Revolut has attracted more than eight million customers since its launch four years ago. 

Gilbert said: “Revolut is a unique proposition in the digital banking world, and I’m pleased to be joining the board at such an important stage in its development.

“Nik and the team have made great strides towards building the bank of the future, and I’m proud to add my deep experience of board governance and corporate growth to the board as Revolut continues to expand on a global scale.”