City veteran Martin Gilbert appointed chairman of fund manager Toscafund

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City veteran Martin Gilbert appointed chairman of fund manager Toscafund as he prepares to exit Standard Life Aberdeen

By Neil Craven, Financial Mail on Sunday

Published: | Updated:

City veteran Martin Gilbert has been appointed chairman of fund manager Toscafund as he prepares to exit Standard Life Aberdeen, the investment giant he helped to create. 

Gilbert launched Aberdeen Asset Management in 1983 and became vice chairman of Standard Life Aberdeen following its 2017 merger with Standard Life. He is also currently chairman of Aberdeen Standard Investments.

He joins London-based Toscafund run by founder Martin Hughes – known as ‘the Rottweiler’ for his direct approach – which has more than £3billion under management. 

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Hughes, 58, told The Mail on Sunday: ‘Martin and I have managed our businesses through both the good and difficult moments. I look forward to the benefit of his guidance and collaborating on future opportunities.’ 

Gilbert, 64, is also non-executive chairman of digital bank Revolut, a non-executive director of Glencore, and was previously deputy chairman of Sky, resigning on the completion of the Comcast purchase. 

He has also agreed to become a non-executive of Old Oak Holdings, parent of Toscafund and 100 per cent owned by Hughes. 

Old Oak also counts Sir George Mathewson, former chief of The Royal Bank of Scotland, and former Barclays chairman John McFarlane as directors. Gilbert was unavailable for comment.

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