Aberdeen Asset Management and Standard Life merge

Aberdeen Asset Management and Standard Life have merged to form one of the largest asset management companies in the UK. The new company, Standard Life Aberdeen, will have assets under management of £670bn. It was announced in June that Aberdeen’s Petti Vanhanen and David Paine from Standard Life will be global co-heads of real estate. The deal between the two companies was first announced on 6 March. The group’s investment business, Aberdeen Standard Investments, will manage £583bn of assets, while overall Standard Life Aberdeen will have offices in 50 cities around the world, servicing clients in 80 countries. It has a market cap of more than £11bn. Keith Skeoch, chief executive of Standard Life Aberdeen, said: “Our leadership team is in place and we have full business readiness from day one.” To send feedback, e-mail alex.peace@egi.co.uk or tweet @egalexpeace or @estatesgazette