Wealth managers and fund buyers have praised the "complementary" proposed merger between Standard Life and Aberdeen Asset Management, although they have raised concerns about staff retention and other potential risks.
Aberdeen Asset Management and Standard Life announced this morning they had reached a recommended all-share merger deal, which would create "a formidable player in the active asset management industry globally" running more than £660bn of assets. A combined group, which will be headquartered in Scotland, will in due course be branded to incorporate the names of both Standard Life and Aberdeen, while Keith Skeoch (pictured), CEO of Standard Life, and Martin Gilbert, CEO of Aberdeen, would become co-CEOs. Fund buyers have said the proposed deal is a sensible one for both parties as the g...
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