Aberdeen's chief executive Martin Gilbert has committed the fund group to competing on a global scale after it secured the takeover of Scottish Widows Investment Partnership (SWIP) in a deal worth up to £650m.
The acquisition will make Aberdeen the largest listed independent fund manager in Europe, propelling it up the global asset manager rankings at the same time as it forms a strategic partnership with current SWIP parent Lloyds Banking Group. It adds £136bn of assets under management to Aberdeen’s existing £200bn, though the top five players globally each have more than £1trn in assets. Speaking to Investment Week, Gilbert said: “We want to be in the top list of fund providers to compete with the large fund management groups, which have the advantage of scale. “The acquisition will a...
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