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Standard Life and Aberdeen complete mega merger

Standard Life and Aberdeen Asset Management complete merger, creating huge investment group responsible for £670 billion of assets.

 
Standard Life and Aberdeen complete mega merger

Standard Life and Aberdeen Asset Management have completed their merger, creating an investment group responsible for £670 billion of assets.

Shares in Standard Life Aberdeen (SLA) began trading today, rising 1.4% to 416.5p. Aberdeen shareholders have received 0.757 of a share in Standard Life Aberdeen for each of their Aberdeen shares.

The group’s investment business, Aberdeen Standard Investments, manages £583 billion of assets.

Overall the combined business will boast more than 1,000 investment professionals based around the world.

The group's pensions and savings business, which keeps the Standard Life name, has around 4.5 million customers and is based primarily in the UK, with operations in Ireland and Germany. Overall, Standard Life Aberdeen will have offices in 50 cities around the world, servicing clients in 80 countries. 

Under the terms of the merger, Standard Life and Aberdeen bosses Keith Skeoch and Martin Gilbert (pictured left to right) have become joint chief executives of the business.

Skeoch said: ‘Today marks the culmination of many months of hard work and preparation by our business, and the beginning of a new chapter in our history as Standard Life Aberdeen. Our leadership team is in place and we have full business readiness from day one.’

Gilbert added: ‘The merger deepens and broadens our investment capabilities, and gives us a stronger and more diverse range of investment management skills as well as significant scale across asset classes.’

2 comments so far. Why not have your say?

RON SHARPE

Aug 14, 2017 at 16:53

We shall suck it and see!

Two Ceo's is not normally a successful formula.

report this

Franco

Aug 19, 2017 at 11:52

The 9-headed Hydra of Greek mythology did not have a good end.

report this

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