Standard Life Aberdeen mulls name change

Stephen Bird

Edinburgh-based investment giant Standard Life Aberdeen (SLA) is considering a name change amid reports that new chief executive Stephen Bird is mulling a deal to sell the ‘Standard Life’ brand name to Phoenix Group.

Closed life and pension fund consolidator Phoenix Group Holdings plc is the owner of the “old” Edinburgh-based Standard Life Assurance and Phoenix Group occupies the former SLA HQ on Lothian Road, Edinburgh.

Standard Life Aberdeen has a 17.9% stake in Phoenix Group.

Reports claim any transaction on brand names would form part of a restructured relationship agreement between SLA and Phoenix that might include extending the terms of an asset management partnership struck in 2018.

Standard Life Aberdeen manages more than £500 billion of assets, has offices in over 50 locations worldwide and employs around 6,000 people.

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.