Aberdeen CEO Gilbert sells £2.5m of shares

Martin Gilbert, the chief executive of Aberdeen Asset Management, has sold almost one-sixth of his stake in the firm.

According to a stock exchange filing, Gilbert (pictured) has sold £2.5m worth of his total £17m stake in the business, assuming a price of 248p per share.  He had previously owned almost 6.8 million shares, equivalent to roughly 0.58% of the company, but has now sold £2.5m of his stake, reducing his ownership to 0.5%. Chief investment officer Anne Richards has also scaled back her stake, which was previously £2.7m, by £500,000. According to an Aberdeen spokesperson, the pair sold their stock for tax planning purposes and in order to diversify their portfolios. The asset manager ...