Strategy
Newly-Formed Asset Manager Pledges To Ramp Up Boardroom Standards
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.
