The merger between Aberdeen Asset Management and Standard Life first announced in March has been completed.
The new global investment company, Standard Life Aberdeen, has US$871 billion in assets under administration.
“Today marks the culmination of many months of hard work and preparation by our business, and the beginning of a new chapter in our history as Standard Life Aberdeen plc,” said Keith Skeoch, the company’s co-chief executive, in a news release. “Our leadership team is in place and we have full business readiness from day one.”
The company’s investment arm, Aberdeen Standard Investment, manages US$758 billion in assets. It will continue to provide investors with strategies on equities, fixed income, multi-asset and alternatives.
As well, the company’s workplace pensions and savings business, Standard Life, will continue to operate in Britain, Ireland and Germany.
“As ever, our priority remains the delivery of strong investment performance and the highest level of client service,” said Martin Gilbert, co-chief executive at Standard Life Aberdeen. “The merger deepens and broadens our investment capabilities, and gives us a stronger and more diverse range of investment management skills, as well as significant scale across asset classes and geographies. We believe this will enable us to deliver an even better proposition and service to our enlarged client base.”