Standard Life Investments
 |
|
| Public company | |
| Traded as | : FTSE 100 Component |
| Industry | Financial services |
| Founded | 1825 |
| Headquarters | Edinburgh, Scotland, UK |
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Key people
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Sir Gerry Grimstone, Chairman Martin Gilbert, Co-Chief Executive Keith Skeoch, Co-Chief Executive |
| Revenue | £18,729 million (2016) |
| £723 million (2016) | |
| £419 million (2016) | |
|
Number of employees
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9,000 (2017) |
| Website | www.standardlifeaberdeen.com/ |
Standard Life Aberdeen plc is an investment company with headquarters in Edinburgh and operations around the globe. In March 2017, Standard Life reached an agreement to merge with the investment company Aberdeen Asset Management. Standard Life was renamed Standard Life Aberdeen on 14 August 2017. It is listed on the and is a constituent of the FTSE 100 Index.
The Standard Life Assurance Company was established in 1825 and was reincorporated as a mutual assurance company in 1925. During the 19th century it opened offices in Canada, India, China and Uruguay.
In 2006 demutualisation took place and the company was floated on the . The company sold Standard Life Bank plc to Barclays plc in January 2010 and then acquired the remaining 75 per cent stake in Threesixty, a financial advisory support business, that it did not already own for an undisclosed sum in March 2010. It sold its healthcare division to Discovery Holdings, a South African business, in May 2010 and went on to buy Focus Solutions Group, a financial software company, for £42m in December 2010.
In February 2013, the company announced that it had acquired the private client division of Newton Management Limited, a UK wealth management unit of BNY Mellon, in a deal worth up to £83.5 million. In March 2014, it was announced that Standard Life was in advanced talks to purchase rival Phoenix Group Holdings’ Ignis Asset Management for around £400 million. Towards the end of the month, Standard Life completed the acquisition for a fee of £390 million. In September 2014, Standard Life agreed to sell its Canadian operations to The Manufacturers Life Insurance Company, a subsidiary of Manulife Financial Corporation. It completed this sale on 30 January 2015 for a cash consideration of C$4.0bn. The transaction included a Global Collaboration Agreement where Manulife will seek to distribute Standard Life Investments' funds in Canada, the US and Asia. In a round-up of 2014 business, pre-tax profits rose by 19% to £604m, fee-based revenue during the year grew 14% to 1.43bn, and over 340,000 auto-enrolment customers were added. The pay and bonus of Chief Executive, David Nish, rose by 23% to almost £5.5m.
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