July 3 (Bloomberg) -- Andrew McMenigall and Toby Wallace, two executives at Aberdeen Asset Management Plc, were killed in a traffic accident while taking part in a charity bicycle ride across Britain.
McMenigall, 47, a senior global equities manager based in Edinburgh, and Wallace, 36, a senior relationship manager in the Scotland-based firm’s Philadelphia office, died yesterday after being hit by a truck near Newquay in Cornwall, the company said in an e-mailed statement.
The collision occurred in the first day of an approximately 900-mile (1,448-kilometer) ride from Land’s End, the most southwesterly point in Britain, to John O’Groat’s, the most northerly mainland point in Scotland. The trip was to raise money for a charity in memory of a former colleague who died of cancer two years ago.
“The fact that they died in such tragic circumstances while trying to help others less fortunate tells you much about their selflessness and humanity,” Martin Gilbert, chief executive officer of Aberdeen, Scotland’s largest money manager, said in the statement. “This is a terrible time for the company. Our thoughts are with the families of Andrew and Toby.”
McMenigall joined Edinburgh Fund Managers in 1997 before the firm was bought by Aberdeen six years later. He helped oversee 30 billion pounds ($46 billion) in global equities.
A triathlete, McMenigall was a graduate of the Royal Military Academy, Sandhurst, and a former British Army officer. He earned a master of business administration from the University of Edinburgh.
McMenigall was vice president of the Edinburgh Triathletes club and helped coach David Carry, who swam for the British team at the Olympics in 2008 and 2012, the Scotsman newspaper said today, citing Edinburgh Triathletes President Gavin Calder. He was married and had two daughters
Wallace, who was also married, joined the company in 2000 after graduating from Cambridge University. He twice rowed on the winning side in the annual race on the River Thames between Oxford University and Cambridge, Aberdeen said. Last year, he rowed the Atlantic as part of an eight-man crew to raise money for the same charity supported by the bicycle ride.
Devon & Cornwall police said in a statement the truck driver had been arrested on suspicion of causing death by dangerous driving. He was later released on bail.
Aberdeen oversees 212 billion pounds.
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