SLA to sell Parmenion platform in ongoing bid to 'simplify' business - reports

£6.5bn AUM

Lauren Mason
clock • 1 min read

Standard Life Aberdeen CEO Stephen Bird is to auction off adviser platform Parmenion in an ongoing bid to simplify the business, which he took over from former CEO Keith Skeoch in September this year.

The disposal of the platform, which manages £6.5bn of assets, will be managed by Natixis subsidiary Fenchurch Advisory Partners and will be formally announced to the stock exchange today, according to reports. The sale comes as part of Bird's ongoing plans to simplify SLA's structure, which he has been vocal about since taking over the firm. In a statement issued to Sky News, Bird said Parmenion is a "fantastic and highly regarded business" but that the firm's offering to financial advisers needs to be simplified. Instead, the CEO said he will focus on SLA's two other adviser platform...

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