Aberdeen Asset Management spokesman denies CEO approaches potential buyers
An Aberdeen Asset Management [LON:ADN] spokesman has denied that founder and CEO Martin Gilbert is looking to sell the UK-based investment firm, the Financial Times reported.
The spokesman was cited as saying that neither an informal or formal approach to potential buyers has ever been made by Gilbert in his 32 years with the firm running the business.
The comment was in response to the item which reported citing people familiar with the matter that Gilbert has informally contacted several rivals over past months. One source said Gilbert is happy to stay independent while not denying that he has made approaches, the item noted, adding that Gilbert would not comment.
The business could attract funds in the US, UK and Asia as well as private equity firms Blackstone, Warburg Pincus and KKR, the report said, citing analysts. Bank insiders were quoted as saying that Deutsche Bank and Credit Suisse have indicated that their interest in asset management has been re-ignited though any acquisitions in the near term won't be likely.
Aberdeen Asset Management bought Deutsche Bank's institutional fund business in the UK and US in 2005, and seven years ago, it also snapped up a big portion of the global fund management business of Credit Suisse, as reported.
Financial Times