Standard Life Wealth is to become part of Standard Life Investments as of 1 January next year, the group has announced.
Standard Life Wealth CEO Richard Charnock, who will join the SLI board on the same date, will report to SLI head Keith Skeoch as part of the reorganisation.
The move follows the wealth unit's recent acquisition of Newton Private Clients, which Skeoch said turns Standard Life Wealth into "a substantial asset management business".
"[This] has created a deeper operational and investment link between our two companies. It now makes sense to align our two businesses more closely," Skeoch added.
"We see substantial opportunities to accelerate the growth of Standard Life Wealth from its strong base as a whole-of-market discretionary fund manager of significant scale and market presence.
"Standard Life Investments' infrastructure, internal expertise and international exposure will provide strong support for future growth."
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