Martin Gilbert’s fast-growing asset manager AssetCo announced that Gary Marshall has been appointed as its Chief Financial and Operating Officer (CFOO) and has joined its board of directors with immediate effect.

“Gary has extensive asset management experience, having held various senior management roles at Standard Life Aberdeen (now abrdn) over the past 25 years,” said AssetCo.

“He was most recently the Head of UK & EMEA Region at Standard Life Aberdeen.

“Previously, Gary was the Chief Executive of Aberdeen Standard Fund Managers Ltd and Aberdeen Asset Investments Ltd. Gary’s extensive experience includes expertise in financial and regulatory reporting for asset management businesses and the co-ordination of functional activities across regulated entities.”

Gilbert said: “I am delighted that Gary has joined AssetCo as CFOO.

“Gary’s experience and expertise within the asset management industry means he is well placed to build on AssetCo’s strong foundations.

“Bringing operational, managerial and financial expertise, Gary will focus on integrating our recently acquired businesses, managing our finances, driving efficiencies and improving cost management across the AssetCo group.”

In June, AssetCo agreed to acquire Colin McLean’s Edinburgh-based fund management business SVM Asset Management.

AssetCo said SVM would spearhead its plans to have a significant asset management hub in Edinburgh, which already includes Saracen Fund Managers and Revera Asset Management, subject to regulatory approval. AssetCo said in June the three businesses have over £800 million of assets under management (AuM).

AssetCo said in June that following completion of the SVM deal, it would have £3.5 billion of assets under management in listed equity fund strategies across its various businesses.