Alliance Trust starts registering English companies ahead of Scotland vote
Alliance Trust, the Dundee-based investment management group, has begun setting up registered companies in England, ahead of the Scottish referendum.
The firm said it’s a precautionary measure when it comes to tax, financial regulation and what currency Scotland would use if independent – another knock for Alex Salmond.
Chief executive Katherine Garrett-Cox said:
The referendum in September is creating uncertainty for our customers and our business, which we have a responsibility to address.
Regardless of the outcome it is critical that we are able to provide continuity of service and protection for their investments and savings.
Last month, Standard Life, which is based in Edinburgh, warned that a yes vote for independence could see it moving large parts of its operations from the country, "in order to ensure continuity and to protect the interests of stakeholders".
Alliance Trust made the announcement within its full-year earnings report, posting a return of 18 per cent on net asset value per share.