View more on these topics

Standard Life and Aberdeen set aside £35m to keep star managers

Merged firm bids to hold on to star fund manager talent with £35m bonuses

standard life aberdeen £35m

Standard Life and Aberdeen Asset Management have set aside £35m in retention bonuses for star fund managers ahead of their merger.

The bonuses would be payable to fund managers who remain with the group for at least three years, Sky News reports.

It would form part of the £320m cost associated with the merger.

A Standard Life spokesperson confirmed the company had “specific plans in place to engage and retain” staff through the merger process.

The merger is reportedly set to put up to 1,000 jobs at risk and will result in cost savings of £200m a year.

The same week that the deal was announced, SLI announced its head of equities, David Cumming, was departing to pursue other interests.



Standard Life and Aberdeen eye smart beta entry as merger plans take shape

Aberdeen Asset Management and Standard Life have “big plans” to enter the smart beta arena as the merging firms prepare to present their new investment strategy. The divisional investment structure of Aberdeen and Standard Life, which will be presented to shareholders in early May, will focus on up to six investment strategies within equity, fixed […]


Foot Anstey: Non-compete clauses – the most powerful weapon for employers

In the current market, with fierce competition between competitors and where a more stable economy is encouraging investment in lateral hires, the need to protect your business and client relationships is becoming increasingly important. Restrictive covenants can be used to try to limit any potential damage to a business by a departing adviser. While the […]

Chris Davies: Why we need a protocol on restrictive covenants

Tisa’s commendable recent conference on restrictive covenants seemed to generate a general consensus on the need for a pan-industry protocol to alleviate a potentially litigious nightmare of aggressive and defensive behaviour when advisers decide to up sticks and leave a firm with clients willing to follow them. The very fact that Tisa facilitated an environment […]


The future of the FOS: Has it turned a corner with advisers?

Advisers have welcomed the Financial Ombudsman Service’s attempts to engage with them more as it tries to get a firmer grip on costs and efficiencies. In its latest business plan and budget, published last month, the FOS said it would cut nearly £32m from proposed spending, as staff costs in particular would be squeezed. Industry […]

Pension - thumbnail

David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.


News and expert analysis straight to your inbox

Sign up


    Leave a comment