MARTIN Gilbert, who runs Aberdeen Asset Management and is poised to become co-head of the financial giant being formed by the investment house’s merger with Standard Life, has been appointed to mining giant Glencore’s board.

He has become an independent non-executive director of Glencore. The miner’s annual report shows the base annual fee for a non-executive director is $135,000 (£104,230), with further amounts payable depending on memberships or chairmanships of board committees responsible for the likes of audit and remuneration.

Malaysian-born Mr Gilbert, a co-founder of Aberdeen Asset, is deputy chairman of broadcaster Sky. He is a former director of Aberdeen Football Club, and a past chairman of transport company FirstGroup.

Glencore chairman Tony Hayward, former chief executive of oil giant BP, said of Mr Gilbert’s appointment: “Martin is one of the leading entrepreneurs of asset management and also has a long track record as a FTSE non-executive director. We are delighted that Martin has agreed to join us and look forward to benefiting from his experience and insights.”

Mr Gilbert was appointed chairman of the Prudential Regulation Authority’s practitioner panel in December 2013. He sits on the board of directors of the Institute of International Finance. He is a member of the International Advisory Panel of the Monetary Authority of Singapore.

Standard Life boss Keith Skeoch and Mr Gilbert are due to become co-chief executives of the enlarged entity formed by the multi-billion-pound merger of Aberdeen Asset and Standard Life.