Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Standard Life seals Ignis buy

Standard Life seals Ignis buy

Standard Life has completed its acquistion of Ignis Asset Management.

In March Standard Life announced its intention to buy Ignis Asset Management from its parent company the Phoenix Group for £390 million.

As part of the transaction, Standard Life Investments will provide asset management services to Phoenix’s life company subsidiaries including the potential to manage future books of assets that Phoenix may acquire.

The cash consideration received was £390 million, of which £250 million will be applied as a prepayment of the Impala debt facility.

The completion of the deal happened after it received authorisation from the Financial Conduct Authority (FCA) to the proposed change in control.

Keith Skeoch (pictured), chief executive of Standard Life Investments, said the acquisition was part of the company's growth strategy.

'The acquisition of Ignis is another step in Standard Life Investments' growth story, reinforcing our strong foundations, broadening our third party client base and increasing the range of investment solutions we offer.

'We look forward to working with our new colleagues and welcoming new clients to Standard Life Investments. Our priority remains the continued delivery of strong investment performance and the highest level of client service.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: from Batman Live to commodity beta

Profile: from Batman Live to commodity beta

Charteris may be a family affair, but the company is not at any risk of turning sentimental

Wealth Manager on Twitter