Regulator approves Aberdeen SWIP deal

The Financial Conduct Authority has approved Aberdeen Asset Management's acquisition of Scottish Widows Investment Partnership (SWIP).

In a statement to the stock exchange, Aberdeen said the deal will complete on 31 March. "We will continue to work closely with SWIP and Lloyds Banking Group to ensure a smooth completion process," said Aberdeen CEO Martin Gilbert (pictured). "The way we have already worked together to develop a structured integration plan is very encouraging and means the migration process will begin very shortly after completion. "This co-operation confirms my belief that the combination of the two businesses and our strategic relationship with Lloyds will be of great long-term benefit to our shar...