Alan Steel Asset Management, the Scottish investment and wealth management company founded by industry veteran Alan Steel - who has died from Covid-19 - paid tribute to him today in a public statement.

Steven Forbes, managing director of Alan Steel Asset Management, issued a statement today to clients and on the company's website about the sad death.

He said: "It is with deep sadness that I have to inform you that the company’s founder and figurehead Alan Steel has passed away.

"As you know a few weeks ago he caught the horrible virus that has dominated our lives for the last eighteen months, and despite his battles against huge institutions such as Equitable Life, the regulator and those that gave our industry a bad reputation, his last, against an invisible foe, was one that even he could not win.

"I suspect he was aware this may be his final fight as before he went into the ICU he wanted me to let you know that he started work at Scottish Widows the day after man landed on the moon, and he hoped he had been able to bring a ‘Sea of Tranquillity’ to your finances in that time.

"There is a pall of sadness hanging over the company just now, but as you would expect Alan made sure it would be business as usual when he was no longer around and the 41 of us in this branch of his family will continue his legacy and maintain the five key components of the business he loved; Knowledge, Integrity, Innovation, Fairness and Fun.  I make no bones about the fact the last will be the hardest to do initially, but Alan would want us smiling so we will try our best.

"He is now with his beloved, and wise, Grannie McKay and will have a new audience for his multitude of jokes and stories.  I also know the hole that exists in our lives just now as a result of his passing will be filled with joyous memories in time."

In a message on Twitter this afternoon, Mr Steel's son Malcolm @malcolmsteel posted: "I am deeply comforted by the amazing number of messages today about my father, Alan Steel (@asibiza). Young at heart, full of knowledge and passion, and a drive to help others (especially the underdog). He was my hero and I will miss him forever."