Aberdeen's Gilbert considers 'bolt-on' acquisitions

Aberdeen Asset Management will consider additional acquisitions following its purchase of Scottish Widows Investment Partnership (SWIP) last year, chief executive Martin Gilbert has said.

Aberdeen reported a capital position of £541m as of 31 March in its interim results, which it said represents headroom of £221m above regulatory capital requirements, and the chief executive suggested the fund house will not be sitting on its cash pile. Speaking following the publication of those results, Gilbert said the acquisitive asset manager is once again on the lookout for potential deals, but added they will be rather less high profile than its £550m deal for SWIP. Analysts at Numis have suggested Aberdeen may be in the running to buy US-focused Russell Investments for around ...