Asset managers back Big Four audit firms in competition watchdog consultation November 15, 2018 Investment management firms have called on the competition watchdog to ensure the quality of audit is not affected as it probes the dominance of the so-called Big Four firms. In a response to the Competition and Markets Authority Standard Life said the division of the dominant audit firms – PwC, Deloitte, KPMG and EY – [...]
Jobs will stay in City after Brexit, says top asset manager November 8, 2018 Jobs will not leave the City of London in huge numbers after Brexit, the head of one of the country’s biggest asset managers has said. Martin Gilbert, the co-chief executive of Standard Life Aberdeen, said he is “positive” about the City’s future, and believes Dublin will be the big winner as jobs are created there [...]
Standard Life Aberdeen welcomes Douglas Flint as chairman October 30, 2018 Standard Life Aberdeen (SLA) ended its hunt for a new chairman earlier today after hiring industry heavyweight Sir Douglas Flint. The Scottish-born former accountant, who stepped down as chairman of HSBC in September last year, is set to succeed Sir Gerry Grimstone at the start of next year. Last year Flint was also appointed as [...]
Lloyds and Schroders sign £80bn joint venture deal October 23, 2018 Lloyds Banking Group and Schroders struck one of the City’s largest ever wealth management alliances this afternoon, joining forces in a multi-billion pound deal aimed at financial planning for wealthy customers. As part of the joint venture, Schroders will take on an £80bn investment contract from Scottish Widows, which is owned by Lloyds. Schroders, which [...]
Calls for Brexit deal to protect UK asset management industry September 13, 2018 Analysts have called for the final Brexit deal to protect the asset management industry as it emerged that the value of investments managed in the UK for European clients increased by 30 per cent last year. A total of £3.2 trillion is managed in the UK for overseas clients, of which £1.8 trillion is assets from European [...]
Standard Life share price falls on hit from Osborne’s pension shake-up August 4, 2015 The insurance giant's admission that it will be hit by the government's pension shake-up sent shares down three per cent to 440.7p in mid-morning trade today. The figures In results posted this morning, Standard Life said operating profit before tax rose six per cent to £290m in the six months ended 30 June, from £274m during the same period a year earlier. The [...]
Standard Life to shut down Singapore arm June 25, 2015 Standard Life is closing its insurance business in Singapore, swallowing a £45m loss, it revealed today. The FTSE 100 company said the closure would go ahead subject to regulatory approvals, but that it was now no longer accepting new applications or contributions to existing plans. Customers in Singapore will be contacted with an [...]
Keith Skeoch to step up as David Nish quits as chief executive of Standard Life June 19, 2015 David Nish will step down as chief executive of Standard Life in August after six years in the role, the savings giant said today. He'll be replaced by Keith Skeoch, currently chief executive of Standard Life Investments. Sir Gerry Grimstone, Standard Life's chairman, said Nish had "shown great leadership over the last six years, and [...]
Standard Life assets rise in face of pensions and annuities reforms April 29, 2015 The figures Standard Life's assets under administration rose by five per cent to £311.9bn in the first quarter, as the savings and assets manager flexed its muscle in the face of new UK laws allowing savers to cash in their pension annuities. Third party net inflows of £3.7bn – 73 per cent of which came [...]
City boss Gerry Grimstone: The buck has to stop with board directors March 23, 2015 Who is to blame when a banker many tiers from the top of the firm misbehaves? The banker alone? Their manager? The boss of their division? The chief executive? It can be chaotic working out who should be punished in a vast organisation across dozens of countries and hundreds of thousands of workers. But there [...]