MutualFundWire.com: The Aberdeen Family Mourns the Loss of Two of Their Own

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Wednesday, July 3, 2013

The Aberdeen Family Mourns the Loss of Two of Their Own

An already solemn, mournful day for Aberdeen Asset Management [profile] turned tragic when two of the firm's executives, including a member of Aberdeen's Philly-based institutional and endowment channel team, were killed during a charity bike ride organized to raise funds for another colleague lost to cancer in October 2011.

Toby Wallace, a senior relationship manager in the firm's Philadelphia office, and Andrew McMenigall, a senior investment manager in the global equity team based in Edinburgh, were killed during a charity bicycle ride from Land's End, England to John o'Groats, Scotland to raise funds for the Kirsten Scott Memorial Trust. Kirsten was a colleague at Aberdeen who lost her battle with cancer in October 2011.

According to the company, "the aim of the Trust is to provide grants to young people under the age of 26 in order for them to fulfill ambitions, enhance their personal development, and make a positive contribution, either at home or overseas."

Wallace, who was married, was no stranger to charity athletics.

In 2012, he was part of an 8-person crew that rowed across the Atlantic Ocean from the Canary Islands to Barbados, according to Philly.com. That trip also benefited the Kirsten Scott Memorial Trust.

The trip was also an attempt to break a world record for the journey, which the crew missed by a bit less than three days.

Wallace also had been a winning Blue in the 1998 and 1999 University Boat Race held annually in London.

Further, the company noted that Wallace was "also a leading voice within the U.S. arm of Aberdeen Charitable Foundation, dedicating countless hours with numerous organizations towards improving the lives of Philadelphia's youth through sport and education, some of his greatest passions."

A Jesus College, Cambridge graduate, Wallace worked in London, as well as Sydney, Australia. In 2011 he transferred to Phildelphia to work as part of the institutional business development team. It was then that he adopted the role of senior relationship manager, with a particular focus on the endowment and foundation space.

Wallace sounded excited about the endowment and foundation space in the US, deeming the area "relatively untapped for Aberdeen," as he stated in his company bio.

Meanwhile, McMenigall was described by the company as "a keen tri-athlete." He graduated as an Officer in the British Army from the Royal Military Academy, Sandhurst before completing an MBA from the University of Edinburgh. He was also married with two daughters.

In a statement,Martin Gilbert, Chief Executive Officer of Aberdeen Asset Management, said: “I knew both Andrew and Toby well. They were dedicated and popular members of our senior team. The fact that they died in such tragic circumstances while trying to help others less fortunate tells you much about their selflessness and humanity. This is a terrible time for the company. More importantly our thoughts are with the families of Andrew and Toby. We will be doing everything we can to support them.”

The company provided a link to Andrew and Toby's Virgin Money Giving page for their bike ride for donation to the Kirsten Scott Memorial Trust:http://uk.virginmoneygiving.com/team/mcmenigallwallace.

Aberdeen's statement is below:

It is with great sadness that Aberdeen Asset Management confirms the passing of Andrew McMenigall and Toby Wallace, two much loved and valued colleagues who were yesterday involved in a fatal cycling accident in Cornwall, England, UK.

They were on a charity bicycle ride from Land's End, England to John o'Groats, Scotland to raise funds for the Kirsten Scott Memorial Trust. Kirsten was a colleague at Aberdeen who lost her battle with cancer in October 2011. The aim of the Trust is to provide grants to young people under the age of 26 in order for them to fulfill ambitions, enhance their personal development, and make a positive contribution, either at home or overseas.

Andrew was married with two daughters. He joined Aberdeen in 1997 and was a senior investment manager in the global equity team based in Edinburgh. A keen tri-athlete, Andrew graduated as an Officer in the British Army from the Royal Military Academy, Sandhurst before completing an MBA from the University of Edinburgh.

Toby was married and was a senior relationship manager in our Philadelphia office. He joined the company in 2000 as a graduate trainee from Jesus College, University of Cambridge. While at Cambridge, Toby became a winning Blue in the 1998 and 1999 University Boat Race. In addition to his professional role at Aberdeen, Toby was also a leading voice within the U.S. arm of Aberdeen Charitable Foundation, dedicating countless hours with numerous organizations towards improving the lives of Philadelphia's youth through sport and education, some of his greatest passions. In 2012, Toby again used his skills to great purpose as a member of an eight man crew which rowed across the Atlantic Ocean. That challenge also raised money for the Kirsten Scott Memorial Trust.

Martin Gilbert, Chief Executive Officer of Aberdeen Asset Management, said: “I knew both Andrew and Toby well. They were dedicated and popular members of our senior team. The fact that they died in such tragic circumstances while trying to help others less fortunate tells you much about their selflessness and humanity. This is a terrible time for the company. More importantly our thoughts are with the families of Andrew and Toby. We will be doing everything we can to support them.”

A number of news publications have covered the tragedy, including Reuters and Bloomberg. Please find below a link to Andrew and Toby's Virgin Money Giving page for their bike ride if you would like to make a donation to the Kirsten Scott Memorial Trust. http://uk.virginmoneygiving.com/team/mcmenigallwallace