Merger of Aberdeen Asset Management and Standard Life completes – (Australia)
14 August 2017
The merger of Aberdeen Asset Management PLC and Standard Life plc has completed today to form Standard Life Aberdeen plc. The group’s combined investment business, Aberdeen Standard Investments, will be the UK’s largest active asset manager and one of the largest investment houses globally. It will have over 1,000 investment professionals and AUD $988* billion in assets under management.
Aberdeen Standard Investments brings together the complementary strengths of two major asset managers to create a world class investment management brand with industry-leading expertise across multi-asset and absolute return investment strategies, equities, fixed income, property and alternatives. The combined business in Australia will have over 70 employees in Sydney and Melbourne, including local Australian Equities, Australian Fixed Income and Infrastructure investment teams.
Brett Jollie has been named Managing Director, and Simone Bouch Head of Distribution, for Australasia. Brett Jollie was previously Managing Director of Aberdeen Asset Management, while Simone Bouch was Head of Standard Life Investments for Australasia. Stuart James, who was Aberdeen’s Head of Distribution in Australia, retains a senior role in the business. Peter Young AM, Chairman of Standard Life Investments Australasia, will continue to advise the business, working closely with the Australian management team.
Brett Jollie said he is excited about the prospects for the newly-merged business;
“The merger presents compelling opportunities for both clients and colleagues. Our clients gain access to a vast global network of investment experts and a far broader and deeper range of capabilities. Our greater scale means we are well-placed to build tailored solutions and navigate the complex investment environment in which we now operate. Our people will benefit from being part of a global business with scale and diversity.”
Simone Bouch said the merger created a powerful and truly global distribution reach across institutional and wholesale markets;
“One of the most exciting aspects of this merger is the depth and breadth of complementary investment expertise that we can offer clients. We will continue to offer the world class products and services for which we have become globally renowned but will now operate with a greatly enhanced local, regional and global network to better service our clients, consultants and strategic partners. As we integrate our businesses over the coming months we are committed to maintaining our focus on investment excellence and the highest level of client service.”