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Aberdeen Standard seals deal for 50% Virgin Money stake   

Aberdeen Standard Investments has signed a purchase agreement with Virgin Money as part of the firms’ joint venture to build a new investment proposition.

CYBG, which completed the takeover of rival Virgin Money last October, said the joint venture with Aberdeen Standard will “build on” Virgin Money’s £3.7bn funds under management as customers will also get access to Aberdeen Standard’s products.

The tie up sees Aberdeen Standard acquiring a 50 per cent stake in Virgin Money’s investment arm for £40m.

The deal for a stake in Virgin Money Unit Trust Managers will see Aberdeen Standard services being offered to all CYBG customers, not just Virgin Money account holders.

Aberdeen Standard Investments co-chief executive Martin Gilbert says: “The signing of the sale and purchase agreement that encompasses Virgin Money, Clydesdale Bank and Yorkshire Bank customers is an important milestone in progressing our joint venture with Virgin Money.

“The partnership offers a fantastic opportunity to develop a business that combines the best talents of Virgin Money and Aberdeen Standard.

“Most importantly, the joint venture will offer customers across the enlarged CYBG group, beyond Virgin Money’s existing customer base with investment solutions to help them achieve their long-term financial goals.”

The deal is subject to regulatory approval and is expected to be completed in the second quarter.


Low angle view of the main facades of the Bank of England and London Stock Exchange and the London Troops memorial at Bank Junction in the City of London. London.

Treasury appoints ex-Virgin Money chief to Bank of England committee

Former Virgin Money chief executive Jayne-Anne Gadhia has been appointed to serve on the Bank of England’s financial policy committee. Gadhia replaces vice-chair of media company RTL Group  Martin Taylor and starts her role in time for the committee’s second quarter round of meetings this year. She will serve on the committee with current Banking […]


Virgin Money completes sale to CYBG

CYBG has completed its takeover of Virgin Money bank in a deal worth £1.7bn today. The parent company of Yorkshire Bank and Clydesdale Bank says the deal will lead to the UK’s “first true national banking competitor to the status quo.” The combined company has over six million customers with around £70bn of customer loans, […]

Aberdeen Gilbert Martin Gilbert 700x450

Aberdeen Standard agrees £3.7bn funds deal with Virgin Money

Aberdeen Standard Investments has agreed a joint venture with Virgin Money to provide asset management services to its customers. Under the terms of the deal, Aberdeen Standard will acquire 50 per cent of Virgin Unit Trust Managers for an upfront cash payment of £40m. The transaction is expected to be completed by the end of […]

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Which chartered route is right for you?

I am often asked whether or not it is worth working towards the CII’s chartered status, to which I invariably answer “yes”. However, uncertainty can stem from the number and mix of credits required to achieve the advanced diploma in financial planning, which is the qualification that forms part of the chartered status requirements. So, […]

Why is relationship management so important for advisers?

It’s easy to see technology as a threat, but it doesn’t have to be; professional advisers, unlike robo-advisers, can excel at the soft skills – valuing clients, respecting them, understanding their investment objectives and feelings. All of these are major contributors to building long-term trust and relationships. Watch the full video and also find out […]


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There is one comment at the moment, we would love to hear your opinion too.

  1. Will this access include the Aberdeen All Share UK Tracker Fund at 0.09% instead of the Virgin Money UK Tracker at 1%?!

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