Aberdeen Asset Management and Standard Life will pay out tens of millions of pounds in retention bonuses to executives to stop them quitting during their £11bn merger deal.
The retention bonuses, totalling around £35m, form part of £320m of one-off integration costs announced by the Scottish fund management groups.
Sky News first reported that the payments would go towards a certain number of executives who handle large amount of client money.
Under the terms of the deal, the bosses of Standard Life and Aberdeen, Keith Skeoch and Martin Gilbert, will hold co-chief executive positions.
Skeoch will handle the “day to day running of the fabric of the combined business”, while Gilbert will focus on “external matters”.