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Standard Life Aberdeen bounces back from asset fall

Standard Life Aberdeen has posted its first quarter results for 2019, praising “positive markets” in which it grew assets by 3 per cent.

Currently the UK’s second-largest asset manager, SLA recorded total assets under management and administration of £568.9bn for Q1.

This figure is up 3 per cent on Q4 last year.

The asset manager says inflows were boosted by the £3.5bn in assets received as part of its joint venture with Virgin Money.

The deal, which was announced in March, saw SLA acquire 50 per cent of Virgin Unit Trust Managers for an upfront cash payment of £40m.

SLA says its acquisition of real estate manager Orion Partners also helped boost the group’s figures.

Orion has offices in Tokyo, Seoul, Hong Kong and Singapore and brought USD$900m (£695m) in assets to SLA.

Standard Life Aberdeen wined and dined ex-Brexit minister at Davos

The institutional, wealth and digital and insurance arms of SLA held £254.5bn at 31 March, also up on December by £4.3bn.

The Telegraph reported SLA was under fire from staff last month after bonuses were cut and some employees were handed zero, or “doughnut”, payouts.

This followed the asset manager ending its joint chief executive structure in March.


Morningstar loses multi-asset manager to Brown Shipley

Brown Shipley has poached former Morningstar manager Cyrique Bourbon for its London office. Bourbon was lead manager of Morningstar’s UK discretionary multi-asset portfolios, having joined the firm from Merrill Lynch Wealth Management. Brown Shipley, which offers both wealth planning, investment management and lending services, will take Bourbon on as an asset allocation strategist. According to […]

Frankfurt Europe European City 480

Baillie Gifford calls new Frankfurt office “gateway to Europe”

Baillie Gifford has opened its first client office in mainland Europe. The asset manager has been growing its European subsidiary, Baillie Gifford Investment Management (Europe), since it was incorporated in Dublin in 2018. The Frankfurt office is currently a “one-man band” – a base for David Gaschik, who was recently appointed marketing director for Germany […]

Pathway winding

Tax investment scheme directors face six-year bans

Three Dorset-based directors have been banned for six years each over their involvement in a £70m unregulated investment scheme. The Insolvency Service first launched an investigated into the directors’ firm Ethical Forestry in after it entered voluntary liquidation in December 2015. The disqualification undertakings – rulings that have the effect, without permission of a court, […]

Michelle Hoskin: How happy is your business?

The happiest firms are the most successful. Follow these four tips to get yours there Great business? Check. Nice office? Check. Money in the bank? Check. Great clients? Great team? No major dramas (if you exclude trying to get professional indemnity cover)? Check, check, check. What on earth could go wrong? Well, actually, quite a […]


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