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Many ambitious people aspire to build a truly successful business, and inevitably, only some succeed. Yet to start with a small buy-out which nearly 40 years later has evolved into one of the UK's largest Asset Management groups with over £500 billion in assets, employing 10,00 people and with offices in 50 cities, as well as being a member of the FTSE 100, is quite an achievement.

So in this podcast, to discuss the asset management industry and its future, we’ve gone north to Scotland, which as JK Rowling observed, is “one of the most hauntingly beautiful places in the world” and we are delighted to have as our guest the man who built and ran Aberdeen Asset Management, and which post-merger, became Standard Life Aberdeen.

Martin describes his schooling and University in Aberdeen, where he studied law and accountancy, and how within a short space of time, in 1983, he and two other alumnae from Robert Gordon's College agreed to buy Aberdeen Asset Management. He talks about expansion into Asia, growth by acquisitions and integrating firms and cultures, and how a mix of serendipity and strategy played their parts in expansion. He describes the motivation for Aberdeen to merge with Standard Life and the opportunities he believes it offers.

The conversation extends to the future of Asset Management, the need for greater differentiation through philosophy and style, fee pressures, active versus passive, and the qualities he believes make for a great fund manager.

We then discuss the current outlook and monetary regime, the future of fossil fuels, and the Scottish independence question that won’t go away, despite compelling economic arguments for the status quo.

Martin then discusses being Chairman of Revolut, being on the board of Glencore, and his experience when on the board at Sky during the bidding process.

Finally Martin talks about dealing with difficulties when they confronted him, and his perfect golfing day.

Peace, Security, & Finding the Right Friends (re-listen)