Gilbert says the end is near

Martin Gilbert

Gilbert, 63, founded Aberdeen Asset Management in 1983, and a year and a half ago steered it through an £11bn merger with rival Standard Life to create SLA.

However, there has been no honeymoon following the mega marriage and SLA continues to try and stem a share run that has seen share value fall more than 45 per cennt amid concerns over the future of traditional stock-picking companies.

And last year, a poll carried out by market data firm Procensus revealed a number of institutional investors want to see a new chief executive at Standard Life Aberdeen.

The results suggested pressure could be mounting on Mr Gilbert, and counterpart Keith Skeoch, as investors favour a move away from the current co-CEO structure and seek an outsider for the top role.

Two thirds of 21 surveyed investors polled in the Procensus-organised research asked for SLA’s co-chief executives structure including Mr Skeoch and Mr Gilbert, to be scrapped.

Speaking in Switzerland, Mr Gilbert said: “I’m getting on. I’m already the second-oldest chief executive [of a British blue-chip company] as well as the longest-serving. I’m in the back nine at golf.”

Addressing SLA’s continuing travails, Mr Gilbert cited the drop on the rise of passive funds, such as those run by Vanguard and Blackrock, which track the wider stock market rather than pick top performers.

However, he expressed hope that performance will pick up after markets dropped around the world an uncertainty creeps in.

At a time of widespread price falls, Gilbert said, traditional fund managers should come back into their own as they offer better protection.

He said traders are realising this, with SLA up 20pc from the lows of December.

He added: “The asset management business had a very rough time last year.

“We’re not the only asset management stock to have halved.

“Hopefully we can get back to the reality of choosing the stocks that are best value.”