Martin Gilbert has said Standard Life Aberdeen will play an important role in rebuilding the economy as it emerges from Covid-19 in his final AGM while serving as a director of the asset manager.
The asset manager’s virtual meeting took place on Tuesday morning.
Ahead of the meeting it revealed net outflows of £24 billion in the year to date, although it noted the yanked Lloyds mandate had accounted for £25bn worth of redemptions.
Estimated assets at the end of April were £490bn.
Chief executive Keith Skeoch said in a statement that the coronavirus lockdown had presented “only a modest impact on the service we provide to our customers and clients”.
Skeoch also stated the funds giant was ready to support to companies it invests in.
“This tough and uncertain environment is likely to last for a while and it’s a time when we need to reinforce our purpose.”
See also: Martin Gilbert exits Standard Life Aberdeen after rollercoaster ride
‘The economy needs leading investors like SLA’
Due to the pandemic, Gilbert (pictured) addressed shareholders in a pre-recorded video.
He described the AGM as a “significant day for me”. “I’m stepping down from the board after serving as the director of Aberdeen Asset Management and Standard Life Aberdeen for the last 37 years.
“During that time, we’ve grown the business from a room in Aberdeen with my two other colleagues Ronnie Scott Brown and George Robb, into a global business. We could not have done any of this without enormous help from many, many people along the way.”
He said he felt he was leaving Standard Life Aberdeen in “excellent hands” pointing to the company’s “strong” balance sheet. He thought active fund management would be “tested and proven as we emerge from this global pandemic and economic crisis”.
“The economy needs leading investors like SLA to play their role in the recovery. And we will support businesses as they emerge from this dark time. My career is moving on to other things but my heart will always be with this business and I wish it well.”
