Aberdeen sounds out potential buyers - reports

Credit Suisse among names in the frame

Martin Gilbert, the CEO of Aberdeen Asset Management, is understood to have made informal approaches to a number of rivals in recent months.

According to the Financial Times, Aberdeen is looking for potential buyers, as the asset manager struggles to recover after being badly hit by recent turmoil in Asia and emerging markets. The paper quotes a hedge fund chief executive, and acquaintance of Gilbert's, who said: "I have heard the [sale] rumours. Martin is of the age where he needs to find a successor, and there is no one [appropriate] within the business today." Asset mangers told the FT that potential buyers could include UK, US and Asian fund groups, as well as private equity companies. Another name in the frame is C...