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Merger of Aberdeen Asset Management and Standard Life now complete

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The merger of Aberdeen Asset Management PLC and Standard Life has now completed to form Standard Life Aberdeen plc, one of the world’s largest investment companies with assets under administration of GBP670 billion (EUR737 billion, USD871 billion). ​

The Group’s investment business, Aberdeen Standard Investments, manages GBP583 billion of assets. This newly combined business will retain a long standing commitment to active investment management with a similar investment culture and approach, underpinned by fundamental research. It immediately becomes one of the largest active managers in Europe, offering clients access to a comprehensive range of developed and emerging market equities and fixed income, multi-asset, real estate and alternatives solutions. As a combined business it will have over 1,000 investment professionals based around the world. 

The Group’s pensions and savings business, Standard Life, has around 4.5 million customers and is based primarily in the UK, with operations in Ireland and Germany. The business has established a market-leading position through a long-term commitment to support the needs of employers and their employees. Over one in six people auto-enrolled into a workplace pension in the UK enjoys the benefits of a Standard Life workplace pension.

Keith Skeoch, Chief Executive of Standard Life Aberdeen, says: “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 plc. Our leadership team is in place and we have full business readiness from day one.  Our people have worked exceptionally well together to complete the merger on schedule and we would like to thank them for this.  The co-operation and collaboration we have witnessed bodes well for the on-going integration of the business, and in helping us create a world-class investment company for our clients, shareholders and our people.”
 
Martin Gilbert, Chief Executive of Standard Life Aberdeen, adds: “As ever our priority remains the delivery of strong investment performance and the highest level of client service.  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 and geographies.  We believe this will enable us to deliver an even better proposition and service to our enlarged client base.”

Aberdeen Standard Investments combined business in Australia will have over 70 employees in Sydney and Melbourne, including local Australian Equities, Australian Fixed Income and Infrastructure investment teams.
 
Brett Jollie has been named Managing Director, and Simone Bouch Head of Distribution, for Australasia. Brett Jollie was previously Managing Director of Aberdeen Asset Management, while Simone Bouch was Head of Standard Life Investments for Australasia. Stuart James, who was Aberdeen’s Head of Distribution in Australia, retains a senior role in the business. Peter Young AM, Chairman of Standard Life Investments Australasia, will continue to advise the business, working closely with the Australian management team.
 
Jollie (pictured) says he is excited about the prospects for the newly-merged business: “The merger presents compelling opportunities for both clients and colleagues. Our clients gain access to a vast global network of investment experts and a far broader and deeper range of capabilities. Our greater scale means we are well-placed to build tailored solutions and navigate the complex investment environment in which we now operate. Our people will benefit from being part of a global business with scale and diversity.”
 
Bouch says the merger has created a powerful and truly global distribution reach across institutional and wholesale markets;
 
“One of the most exciting aspects of this merger is the depth and breadth of complementary investment expertise that we can offer clients. We will continue to offer the world class products and services for which we have become globally renowned but will now operate with a greatly enhanced local, regional and global network to better service our clients, consultants and strategic partners. As we integrate our businesses over the coming months we are committed to maintaining our focus on investment excellence and the highest level of client service.”

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