Tech / Board View | Martin Gilbert
We asked leading investment entrepreneur and Chair of Revolut, Martin Gilbert for the most important advice he offers founders: “Survival! The important thing is to get through it however you can. I believe the rebound will be very strong.”
We’re delighted to share Martin’s insights in the latest in our series with notable growth company Chairs. Martin became Chair of banking fintech Revolut in January 2020 and also chairs Toscafund. For 34 years he was the CEO of Aberdeen Asset Management, the FTSE 100 company he co-founded in 1983. He stepped away from the business last year following its merger with Standard Life in 2017, which created one of the largest asset managers in Europe. Martin is also Senior Independent Director of Glencore. In 2011 he joined the Board of Sky, was appointed Deputy Chair in 2016 and chaired the Board before their acquisition by Comcast. Between 1995 and 2013 was Chairman of FirstGroup, having been a Director since it was formed in 1989.
What do you enjoy most about chairing growth businesses?
You meet some incredible people! I enjoy working with talented entrepreneurs, Nikolay (Storonsky, Founder and CEO, Revolut) is one of the most driven people I have met. I also enjoy the flexibility and lack of bureaucracy of growth company boards, that’s their greatest asset is that things can move quickly.
What do you advise founders to look for in their Chair?
One of the reasons I believe Nikolay and the board chose me as Revolut’s Chair is because I’ve been a founder myself, it helps to have been an entrepreneur, have set up your own business and understand - and be able to learn - from the mistakes you’ve made.
How have you worked differently with your founders during the crisis and will it change how you do things from now on?
I don’t think this crisis has altered our behaviour hugely. Of course, I would like to get back to how things operated previously. We have been meeting face to face wherever we can. I think people need to get back into the office, the novelty has worn off!
I’m sure our future working patterns will be more of a hybrid of home and workplace and I do think there should be a mix. As a Chair, I can’t imagine holding meetings with my CEO only remotely, it’s important to have those face-to-face conversations.
What advice are you giving to your founders on managing through the crisis and out the other side?
Survival! The important thing is to get through it however you can. I believe the rebound will be very strong once things begin to open up again. For companies in the FinTech space like Revolut, the pent up demand will be huge.
What have you learned from the growth space that's helped inform your listed boards - and vice versa?
There have been so many things but most importantly I’d say it’s about cutting out the bureaucracy. That's all you need to do - it will release the energy! Founders and growth businesses have so much to offer the listed space - so I’d say to listed board members: be open-minded.
