Aberdeen Asset Management and Standard Life have today, 14 August 2017, completed their merger to form Standard Life Aberdeen.

With the deal first announced on 6 March 2017, the new company will operate with £670bn of assets under administration.

The group’s investment business, Aberdeen Standard Investments will manage £583bn of assets and will maintain a commitment to active investment management, immediately becoming one of the largest active managers in Europe, the group said. It will offer clients developed and emerging market equities and fixed income, multi-asset, real estate and alternatives solutions.

Standard Life, the group’s pensions and savings arm has around 4.5 million customers, mainly based in the UK, with operations in Ireland and Germany. More than one in six of the auto-enrolled population in the UK has a Standard Life workplace pension.

In total, Standard Life Aberdeen will have offices in 50 cities around the world, serving clients in 80 countries and a market cap of over £11bn. It will also have over 1000 investment professionals worldwide.

Standard Life Aberdeen chief executive Keith Skeoch said: “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.”

Standard Life Aberdeen chief executive Martin Gilbert added: “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.”

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