Martin Gilbert, chief executive of Aberdeen Asset Management, has sold one-sixth of his £16.8m shareholding in the company even though most equity analysts in the City are recommending investors to 'buy' or 'hold' the stock.

Before yesterday, Gilbert owned nearly 6.8 million shares, equivalent to about 0.58% of the company. He has now sold £2.5m's worth of shares, which has reduced his stake to 0.5% of the company, Aberdeen said. He is also has conditional entitlement to another 2.7 million shares, or 0.23% of the company, under bonus plans that may pay out in the years to 2014.