The proposed £11bn mega-merger of Standard Life and Aberdeen Asset Management is a defensive move to fight back against an increasingly challenging market backdrop, City analysts warned, as the pair unveiled full terms of the deal.
The deal to create Britain’s biggest fund manager with £660bn under management has sparked fears that key staff will quit and that hundreds of jobs will be cut in the enlarged businesses as it seeks to cut £200m a year in costs.
It has also raised questions about how Keith Skeoch, the chief executive of Standard Life, and Martin Gilbert, the chief executive of Aberdeen, would work together as co-chief executives of the enlarged Scottish-based company.
Full Content: Financial Times
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