Strategy

Newly-Formed Asset Manager Pledges To Ramp Up Boardroom Standards

Josh O'Neill, Assistant Editor, 16 August 2017

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The merger earlier this week formed the UK's largest asset manager.

The co-chief executives of Standard Life Aberdeen, now the UK’s largest asset manager after its merge finalised earlier this week, have vowed that the group will drive up boardroom standards.

Keith Skeoch and Martin Gilbert also said they would work together for at least the next decade, even though the pair is in their early 60s.

“Asset managers have a big responsibility to hold board and senior management to account for delivering sustainable business success,” Skeoch, the former Standard Life chief executive said. “Trust among investors can also be rebuilt through asset managers’ role in supporting economic activity.”

He continued: “Asset managers can help drive growth by investing in areas of the economy best placed to put that capital to use.”

Shares in Standard Life Aberdeen swelled 3.2 per cent on Monday 14 August to 424p on its first day of trading. At the time of writing (Tuesday 15 August, 11:53am), shares were up 1.34 per cent at 430p.

The merger spawns one of Europe’s largest listed asset management houses with a market value of more than £11 billion ($14.1 billion), assets under administration of £670 billion and offices in 50 cities globally.

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