UK. £11bn merger moves closer for Scots financial services giants
STANDARD Life chairman Sir Gerry Grimstone has said the £11bn merger with Aberdeen Asset Management will create a global funds powerhouse run from Scotland but underlined the enlarged group’s expected commitment to the pensions and savings market.
Speaking after shareholders in both firms gave strong backing to the proposal to combine the firms, Sir Gerry said the pension arm will play a key role in bringing in funds for the asset management business to invest.
“The pensions and savings business in the UK is very important to us, both in its own right and as a distribution outlet for our asset management business,” Sir Gerry told reporters.
Full Content: Herald Scotland
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