UK fund manager River and Mercantile Group plc (RMG) said on Wednesday that former Standard Life Aberdeen co-CEO Martin Gilbert has today joined its board as deputy chairman. 

River and Mercantile manages assets of around £45 billion.

“Martin will bring to RMG his substantial experience and knowledge of the asset management sector,” said RMG.

“He is currently chairman of Revolut Limited and senior independent director at Glencore plc, as well as chairman of Toscafund. 

“However, he is probably best known as a co-founder and then chief executive of Aberdeen Asset Management plc which became one of the world’s leading independent asset managers under his leadership.”

RMG chairman Jonathan Dawson said: “We are delighted that Martin has joined the RMG board.

“Martin has had an exceptionally distinguished career in asset management as one of the founders and chief executive of Aberdeen Asset Management.

“He brings huge experience of the sector to RMG and we all look forward to working with him to develop RMG into a substantial growth business.”

Gilbert said: “RMG is a business with great potential.

“In the current environment there are market opportunities for RMG, both organic and through acquisitions, that can drive shareholder value and I look forward to working with the board to help progress this development.”