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UK: £11bn mega-merger creates countries biggest fund manager

By  |  March 6, 2017
UK: £11bn mega-merger creates countries biggest fund manager

The proposed £11bn mega-merger of Standard Life and Aberdeen Asset Management is a defensive move to fight back against an increasingly challenging market backdrop, City analysts warned, as the pair unveiled full terms of the deal.

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    The deal to create Britain’s biggest fund manager with £660bn under management has sparked fears that key staff will quit and that hundreds of jobs will be cut in the enlarged businesses as it seeks to cut £200m a year in costs.

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    It has also raised questions about how Keith Skeoch, the chief executive of Standard Life, and Martin Gilbert, the chief executive of Aberdeen, would work together as co-chief executives of the enlarged Scottish-based company.

    Full Content: Financial Times

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