Martin Gilbert of Abtrust

Article Abstract:

Aberdeen Trust Holdings (Abtrust) converted itself in May 1985 from its previous structure as an investment trust to a unit trust in a joint venture with the Bank of Scotland and Martin Currie in order to avoid being acquired by London & Manchester Assurance Group. While many observers thought that the reorganization would end Abtrust's funds management business, the funds management side of the business has grown from 50 million pounds sterling under management in 1985 to 600 million pounds in 1990. The company specializes in the acquisition of troubled companies. Managing Director Martin Gilbert, a chartered accountant, states that the strategy of the firm is to discover good investment opportunities, typically companies with expensive overheads that are losing money, and transfer administrative functions to Aberdeen in order to reduce overheads.

United Kingdom, Acquisitions and mergers, Investment advisers, Gilbert, Martin, company profile, Aberdeen Trust Holdings

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Richard Buchanan of LAS

Article Abstract:

Life Association of Scotland (LAS) Managing Dir Richard Buchanan took over his position on Sep 1, 1990, and he is involved in structuring his management team. Buchanan arrived at LAS in Nov 1989, the same month that LAS announced its intention to create a direct sales force of approximately 1,000 direct salespeople within five years. Direct selling was not favored by traditional life insurance companies, which preferred to transact their business through intermediaries. LAS's expansion plans were made possible by the capital of the Dutch group Nationale-Nederlanden NV, one of the largest European life insurance companies, of which LAS is a subsidiary. There are now almost 200 members of the direct sales force located at 19 branches, and they account for 25% of LAS' business.

Life insurance, Insurance industry, Direct marketing, Buchanan, Richard, Life Association of Scotland Ltd., Nationale-Nederlanden N.V.

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Dunedin looks at the thistle

Article Abstract:

Dunedin Fund Managers, with almost three billion pounds sterling under management, is one of the largest and most successful fund management firms in Scotland. Chmn and CEO Donald Marr states that the firm is particularly successful in that it has reduced the proportion of total income derived from the management of investment trusts to les than half. The other income is derived from managing British pension funds, unit trusts, venture capital, and private clients. The firm also managed funds for large Canadian, US, and Japanese institutional investors. Marr believes that the Scottish financial community needs to market itself on its strong professional ability and competence and high professional standards.

Security brokers and dealers, Financial institutions, Marr, Donald, Dunedin Fund Managers Ltd.

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