Aberdeen boss Gilbert cashes in as stock rebounds

Martin Gilbert, the founder and chief executive of Aberdeen Asset Management, has realised £5.3 million by selling a third of his share interest in the £301 billion fund manager.

Gilbert off-loaded the shares that were the subject of awards between 2011 and 2013 following a resurgence in the stock’s value after a pressured start to the year.

The investment house announced to the stock market that Mr Gilbert had sold 1,631,343 shares at £3.25 each.

Aberdeen Asset Management described the transaction as a “deferred share exercise and sale”, and said that Mr Gilbert had sold awards made as part of the company’s variable pay awards in 2011, 2012 and 2013.

The transaction took place yesterday when the investment house also saw its share price increase by 3.9p to 327.9p.