Martin Gilbert's AssetCo doubles stake in River & Mercantile

Change of business strategy

David Brenchley
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Aberdeen Asset Management co-founder Martin Gilbert
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Aberdeen Asset Management co-founder Martin Gilbert

AssetCo has doubled its stake in financial services firm River & Mercantile (R&M), as it looks to pivot its business strategy to develop an asset and wealth management business.

The firm said it had purchased 2.5 million shares in R&M last Friday (5 February) at 228p, taking its total stake in the business to 5 million shares, representing 5.85% of its issues share capital...

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