Things are moving fast over at the newly merged Standard Life Aberdeen. The very first results for the combined company hit the wires this morning and, finally, a clear strategic direction is emerging. Overall, there were net outflows. Not a great start, particularly given Scottish Widows’ parent Lloyds’ decision to pull its £109bn mandate earlier […]
Standard Life Aberdeen has sold its insurance arm to Phoenix in a £3bn deal. In the first results since the merger of Standard Life and Aberdeen Asset Management, the firm has said it has decided to exit the insurance market. Phoenix will pay a total of £2bn in cash for the business. Standard Life Aberdeen […]
Standard Life Aberdeen shares fell 6 per cent this morning on news Lloyds is terminating investment management arrangements with the asset manager on £109bn of assets. The Scottish Widows Investment Partnership assets have been pulled because Lloyds sees Standard Life as a rival. Aberdeen Asset Management acquired SWIP in 2014, while Lloyds is the parent […]
Merger and performance concerns have led $10bn (£7.6bn) in outflows from Standard Life Aberdeen, according to a new analysis. Standard Life Aberdeen was the worst-selling fund house this September, the month after the pair merged, according to research from Morningstar and the Financial Times. Its record over the first nine months of the year is […]
Aberdeen Standard Investments fund manager Harry Nimmo has warned investors against becoming obsessed with Brexit as his UK smaller companies investment trust delivers share price returns of 38.9 per cent. Since the UK’s vote to leave the European Union, Nimmo has slanted the portfolio “significantly” towards companies with international operations with 55 per cent of […]
The merged company owns three platforms: Parmenion, Standard Life Wrap and Elevate, but is promising to keep ring-fencing.
Martin Gilbert and Keith Skeoch have pledged to lead Standard Life Aberdeen for the next 10 years as they assume their roles as co-chief executives of the newly merged company. The merger completed this week creating the UK’s largest asset manager with the group’s investment business operating as Aberdeen Standard Investments and managing £583bn. Standard […]
Pensions and savings chief executive Barry O’Dwyer is among a number of resignations from board responsibilities.
Standard Life and Aberdeen Asset Management have completed their merger, creating a combined business running £670bn in assets. Writing in the Daily Telegraph at the weekend, Standard Life Aberdeen co-chief executive Martin Gilbert said the businesses “will combine our strengths and create a UK-based financial services champion.” He said: “Standard Life Aberdeen begins life at […]
The FCA has approved the merger of Standard Life and Aberdeen Asset Management. In an announcement this afternoon, the companies stated that the regulator, along with the Prudential Regulation Authority, has confirmed its approval. With the deal due to complete in three weeks’ time, it still remains subject to regulatory approvals in other jurisdictions and to […]
The Competition Markets Authority has given the £11bn Standard Life and Aberdeen Asset Management merger the green light putting the deal on schedule to complete before the end of summer. A regulatory note on the London Stock Exchange confirms the transaction has been cleared unconditionally. The merger, which was approved by shareholders on Monday, will […]
Near unanimous votes at both companies give green-light to merger