Aberdeen Asset Management is to take over the sponsorship of Cowes Week.
As part of the deal, announced today, the firm will sponsor the week long sailing event for three years.
In 2007, Skandia announced it was dropping its multi-million-pound sponsorship of the Cowes Week after a 14-year run. The regatta had become synonymous with the provider, which used the event to entertain thousands of IFAs, journalists and other corporate guests.
In an interview with Money Marketing, Fund Strategy’s sister publication, this morning as the deal was announced, Martin Gilbert, the chief executive of Aberdeen Asset Management, says the move will raise the firm’s brand awareness in the UK.
He says: “This is a great opportunity with London 2012 around the corner. Skandia has done an amazing job in its time as sponsor in turning this into a great event. I am not sure we will do it to the same scale that they did but we will be inviting many IFAs to the event.” (article continues below)
Gilbert suggests the sponsorship deal could continue after the initial three year term. He says: “We think this is a big step for our brand and we would look at other opportunities if they came along. If you look back 10 years ago, 75% of our clients were in the UK and 25% were abroad, that has now completely switched around as we have become a leading emerging markets provider and we would like to build up our UK client base.
He adds: “We are very proud to be supporting one of the world’s premier sailing regattas. Aberdeen asset management Cowes week looks set to be a tremendous success and we are very much looking forward to enhancing the experience of both crews and spectators who will descend upon the Isle of Wight later this year.”