Aberdeen Asset Management and Standard Life have completed their merger, first announced in March 2017, creating a new entity with just under $1 trillion in assets under management.
The new Australian entity, which will be known as Aberdeen Standard Investments, will be led by former Aberdeen managing director Brett Jollie.
Former Standard Life Investments (SLI) Australasia head Simone Bouch will head up distribution for the new firm.
Stuart James, who was Aberdeen’s head of distribution in Australia, will retain a senior role in the business. Former SLI Australasia chairman Peter Young will continue to advise the business.
Commenting on the merger, Mr Jollie said, “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.”
Ms Bouch said, “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.”
