Aberdeen Asset Management and Standard Life Agree to Merge -
By CHAD BRAYMARCH 6, 2017
Two big British financial firms, Standard Life and Aberdeen Asset Management, are joining forces, in a $4.7 billion deal
that reflects the rising pressure on money managers that try to beat the markets.
“We strongly believe that we can build on the strength of the existing Standard Life business by combining with Aberdeen to create one of the largest active investment managers in the world
and deliver significant value for all of our stakeholders.”
The combined company would be based in Scotland and use branding from both Standard Life and Aberdeen, the companies said.
Standard Life and Aberdeen Asset Management said on Monday
that they had agreed to an all-share deal to create Britain’s largest asset manager, worth about $13.5 billion based on their stock market value.
In October, Janus Capital Group and the Henderson Group, a large investment manager based in London, agreed to a deal
that would create a company with about $320 billion of assets under management.
Standard Life’s chairman, Gerry Grimstone, would serve as chairman of the combined company,
while Simon Troughton, the Aberdeen chairman, would serve as deputy chairman.
