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Gilbert expects no impact on AAM from constitutional change

Martin Gilbert will head Standard Life Aberdeen, along with Keith Skeoch.
Martin Gilbert will head Standard Life Aberdeen, along with Keith Skeoch.

Aberdeen Asset Management chief executive Martin Gilbert said he did not expect constitutional change after Scotland’s referendum to materially impact the firm.

The fund manager would remain neutral in the debate around so-called “devolution max”, as it did on the issue of independence, he added.

The question of what powers are ceded to Edinburgh is “now firmly in the Westminster politicians’ hands”, he said.

Mr Gilbert added: “The campaigning is over and UK investors will welcome a reduction in the uncertainty of recent months.

“Attention will turn again to the situation in Ukraine, the conflict in the Middle East and the fragile European economy.

“Both sides of the independence debate now need to come together so that from today, Scotland moves forward united.

“Scotland has long been a world leader in business sectors such as oil and gas, whisky and investment.

“The task now is to grow the rest of the economy with the strong support of politicians of all parties.

“As I’ve said before, whatever the outcome of the referendum, Scotland can have a prosperous future.”

On constitutional change, he said: “It’s now up to Westminster to deliver but we’ll be neutral on that.

“I don’t expect it will have any more impact on our businesses than the vote did. So no repercussions on us.”

Asked if Scotland would be a more attractive destination for fund managers if it had its own tax-raising powers, he said the SNP had already talked about lowering corporation tax to attract people and the same could work for income tax.