AssetCo seeks AIM capital raise as Gilbert named chairman

Peter McKellar and Tudor Davies to join board

Martin Gilbert is set to be named chairman of AssetCo as the business looks to raise capital on the AIM sub-market of the London Stock Exchange, with the intention of engaging in further merger and acquisition (M&A) activity, amid an "active pipeline" of asset and wealth management targets.

A 15 April general meeting will see investors confirm Gilbert's appointment as chairman, as well as that of former global head of private markets at Standard Life Aberdeen Peter McKellar as deputy chairman and Tudor Davies as non-executive director. In a statement published this morning (26 March), AssetCo confirmed it would see shareholder approval to disapply statutory pre-emption rights in respect of an amount equal to 100% of the existing share capital. This would enable the firm to raise cash to execute its new strategy of making strategic acquisitions and developing the business...