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Standard Life considers bid for Resolution

Standard Life is considering a cash and shares offer for Resolution if the Board believes it is in the best interests of Standard Life shareholders.

A statement released this afternoon from Standard Life says: “Standard Life notes the recent press speculation. Standard Life confirms that it is monitoring the announced proposed merger between Resolution and Friends Provident plc and is considering the possibility of a cash and shares offer for Resolution, which might possibly include disposals of certain assets.

“Any offer would only be made if the Standard Life Board considered it to be in the best interests of Standard Life shareholders. There can be no certainty that any offer will be made. A further announcement will be made when appropriate.”

Informed Choice director Martin Bamford says: “Resolution is a holder of closed investment funds and the injection of life into it can only be positive thing. Any acquisition comes with some trials and tribulations for staff and customers but it is a profitable organisation and the merger would make good business sense.”

Dunham Financial Services director Rebecca Taylor says: “Standard Life has a
couple of reasonable funds, but from their point of view an acquisition of
Resolution would give them a lot more credibility looking away from life and
pensions. Resolution is starting to get a really good name and I like small
boutique investment houses with specialist niches like it.

“But would I want them to be owned buy a larger organisation and life
company with the interference that entails? Probably not.”


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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.


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