Phoenix Group shares soar after upgrading outlooks insurance Shares in Phoenix Group rallied over six per cent on Monday morning after the firm smashed its cash generation target and upgraded its future guidance. The FTSE 100 company, which owns insurer Standard Life, recorded a 31 per cent increase in operating profit for 2024, which hit £825m. The group met its 2026 target of [...]
Phoenix to restructure pensions business as Standard Life boss retires Investing Phoenix Group is set to merge its pension solutions and asset management arms this year in a bid to rein in costs, as the boss of its Standard Life brand retires from the company after five years. In a statement today the FTSE 100 pensions giant, which manages around £290bn assets for savers, said it [...]
Abrdn’s chief defends rebrand: ‘The name is the name’ Investing Abrdn’s new chief executive defended the company’s rebrand from Aberdeen Standard Life and insisted its name will not change today despite a barrage of criticism over the ‘disemvowelment’ of the asset manager. “The name is the name and we will be continuing with it,” said Jason Windsor this morning, when asked whether he would consider [...]
Lift auto-enrolment pension contribution to 12 per cent for £10bn boost, report argues April 24, 2024 Auto pension enrolment was one of the key policy wins of the coalition era and essentially made employees automatically pay into their pension pots.
WH Smith de-risks pensions scheme via Standard Life insurance policy August 8, 2022 WH Smith on Monday said it had taken out a bulk annuity insurance policy with Standard Life, through which the Phoenix Group subsidiary will cover the costs of the retailer’s £1bn pension scheme. The high-street bookseller’s insurance policy will see Standard Life pay the pensions of the almost 13,000 members of WH Smith’s defined [...]
Standard Life Aberdeen officially changes name to abrdn July 5, 2021 Standard Life Aberdeen has officially changed its name to abrdn, the company announced this morning. The firm’s stock market ticker was changed from SLA to ABDN at 8am today. Stephen Bird, CEO of abrdn plc, says: “I’m very excited to have reached this milestone. abrdn is so much more than a new name, it’s about our business coming together [...]
Standard Life Aberdeen appoints Caroline Connellan as new CEO of personal wealth May 17, 2021 Standard Life Aberdeen has appointed Brooks Macdonald CEO Caroline Connellan as its new chief executive of personal wealth. The firm, which will retain its vowels until its summer rebrand as Abrdn, will welcome Connellan to its London offices. She will report directly to CEO Stephen Bird as a member of the executive leadership team. Connellan [...]
Standard Life Aberdeen to change name to Abrdn April 26, 2021 Fund manager Standard Life Aberdeen has today announced that it will change its name to Abrdn in an effort to shore up its brand identity. The rebranding process will begin in the summer with the aim of creating a “digitally-enabled brand” that will be used for all the company’s client-facing businesses globally. The Abrdn brand, [...]
Standard Life Aberdeen remains optimistic despite 2020 profit slump March 9, 2021 Standard Life Aberdeen suffered a drop in profits in 2020, the fund manager announced today. Operating profit fell 27 per cent to £219m last year, while adjusted pre-tax profit dropped 16 per cent to £487m. The firm finished the year with a strong surplus capital position of £2.3bn, compared to £1.7bn in 2019, benefitting from [...]
Standard Life Aberdeen profit hit by coronavirus and £25bn Lloyds withdrawal August 7, 2020 Standard Life Aberdeen’s pre-tax profit slumped 30 per cent to £195m in the first half of 2020 after Lloyds withdrew £25bn in the peak of the pandemic. The figures Fee-based revenue fell 13 per cent to £706m as clients pulled their money out to lower fee assets and Lloyds’ scheduled withdrawal of assets. That missed [...]