Gilbert’s AssetCo hires ex-SLA executive as CEO
Campbell Fleming: new CEO
AssetCo, the consolidation vehicle led by Martin Gilbert, has hired Campbell Fleming, another former Standard Life Aberdeen high flyer, as chief executive.
Mr Fleming is chairman of The Big Exchange and a non-executive director of a number of other private companies.
He was global head of distribution and marketing at Standard Life Aberdeen until September 2020.
Before joining Aberdeen Asset Management in August 2016, he was chief executive – EMEA and global chief operating officer at Columbia Threadneedle Investments. Prior to this, Campbell was head of UK for JPMorgan Asset Management.
As previously notified, Peter McKellar will focus on his role as deputy chairman and will remain actively involved in the development and execution of the company’s strategy.
Mr Fleming is the latest appointment of former top staff at Standard Life Aberdeen and Aberdeen Asset Management which Mr Gilbert founded in the early 1980s.
Lucy Draper, previously director business development – Middle East Africa at Standard Life Aberdeen (now abrdn) based in Abu Dhabi, will be joining the AssetCo as director – distribution.
Gordon Neilly, SLA’s former global strategy chief, was hired as an adviser to the company.
Mr Gilbert, chairman of AssetCo, says he wants to grow the fledgling business in Asia — an indication the City fund management veteran has his sights set on striking M&A deals in one of the world’s most lucrative investment markets.
London-listed AssetCo, which looks to buy stakes in asset and wealth management companies, has announced several deals in the sector already this year, all based in the UK, including the acquisition of Saracen Fund Managers in Edinburgh.
Speaking about Mr Fleming’s appointment, he said his “experience and expertise within the asset and wealth management industry, together with his leadership qualities, means he is well placed to build on AssetCo’s strong foundations.”
He added: “The sector is facing numerous challenges, but the importance of the industry in enabling clients to achieve their financial goals is even greater. Campbell shares our belief that AssetCo can play a key role by investing in, supporting and developing businesses to meet the needs of investors.”
“Peter steps down from his role as chief executive officer with AssetCo in fantastic shape. In the space of only a few months, he has overseen the acquisition of Saracen Fund Managers, the acquisition of a majority equity interest in Rize ETF and the acquisition of a 30% equity interest in Parmenion.
“The board and I are immensely grateful to Peter for all his hard work and guidance. We are delighted he will remain on the board as deputy chairman, continuing to be involved actively in the Company’s development.”
Mr Fleming commented: “I am excited to be joining Martin, Peter and the AssetCo team, whose focus on clients, industry experience and commitment to innovation attracted me.
“There are a number of structural shifts taking place within the asset and wealth management industry, such as digitisation and changing investing habits.
“As an agile business, AssetCo can capitalise on these shifts to deliver value for investors and shareholders. I am really looking forward to building on the excellent momentum AssetCo has established in such a short period, as well as working with Martin, Peter and the wider team.”