Ex-Abrdn chief exec Martin Gilbert joined Katie to talk about his new asset management venture, AssetCo, which has agreed to acquire sector peer SVM in a deal worth £10.7mln.
Gilbert explains that his team are targeting firms like SVM which he says is an investment-led organisation that ‘manages people’s assets very well’ but can benefit from AssetCo enhancing distribution and help to run the business.
“We allow them to concentrate on running their money,” he says.
The AssetCo chair explains that the team want to continue to grow, organically and through deals, as there are “a lot of opportunities” either in London or Edinburgh, with the focus on AUM and profitability.
The deal for SVM, via the London Stock Exchange listed firm AssetCo, will comprise a £1.7mln payment and the issue of £9mln in convertible loan notes.