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Standard Life acquires AXA's Elevate

Wed, 04th May 2016 07:52

(ShareCast News) - Standard Life added more than 160,000 new customers and £9.8bn of assets under administration on Wednesday, announcing the acquisition of Elevate from AXA UK.The FTSE 100 firm said Elevate - registered as AXA Portfolio Services - would enhance its position as a platform provider for professional advisers, and increase its assets under administration to £36.4bn.It was funding the acquisition from its existing cash resources, and it remained subject to certain conditions being met - including regulatory approval.The amount being paid for Elevate was not immediately disclosed.Standard Life said the new, combined group would create one of the UK's largest adviser platforms with 350,000 customers and net asset inflows of £5.7bn in 2015.It claimed the benefits of the acquisition and combination for customers and its shareholder would include the bringing together of two adviser platform businesses, the broadening of access to market-leading products and services, the combination of both Standard Life and Elevates distribution reach and capabilities, and driving performance and growth."I am excited about the opportunity to bring together two award winning adviser platforms at a time when the need for high quality advice has never been greater," said Standard Life managing director for corporate, retail and wholesale Barry O'Dwyer."We have a track record of successful acquisitions and an integration approach focussed on building a sustainable commercial model for the Elevate platform."David Tiller, Standard Life's head of adviser and wealth management propositions, said the acquisition is a clear sign of the group's commitment to lead the UK adviser platform market."It demonstrates to advisers that, as the market consolidates, supporting their businesses and meeting the evolving needs of their clients is central to the long-term strategy of Standard Life.""This acquisition combines two leading adviser platforms and will bring clear benefits to existing Standard Life Wrap and Elevate advisers alike," Tiller explained.

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9 Feb 2017 16:07

Sector movers: Financials, insurers pace gains as interest rates rise

(ShareCast News) - Interest rate sensitive stocks such as life insurers and banks recovered some of their poise as government bond yields bounced back from their recent lows. Significantly, traders cited comments from US president Trump during the afternoon saying he would have "something phenomenal

9 Feb 2017 10:56

Top Thomas Cook shareholder opposes firm over pay plans at AGM

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1 Feb 2017 15:11

UPDATE 2-Investor Standard Life seeks change at Sports Direct, Volkswagen

* Has "major concerns" about Sports Direct remuneration policy * VW needs more board independence * WPP has made progress in succession planning * Monitoring BHP compensation plans for Samarco dam disaster (Adds comment from VW, Standard Life on VW bond ownership) By Car

26 Jan 2017 11:22

Standard Life's UK pensions chief steps down

(ShareCast News) - Standard Life pensions and savings chief Paul Matthews will retire from the life insurer after 28 years at the company. Matthews, who will step down from the board at the start of March, will be replaced by Barry O'Dwyer, currently chief executive of Standard Life Assurance, just

26 Jan 2017 10:27

Standard Life UK & Europe Pensions & Savings Head To Retire In August

24 Jan 2017 16:16

Tuesday broker round-up

(ShareCast News) - SSE: Macquarie reiterates outperform with a target price of 1735p. Easyjet: Numis reiterates hold, 1050p target. William Hill: UBS downgrades to sell with a 240p target. Standard Life: UBS downgrades to sell with a 310p target. Beazley: JP Morgan reiterates overweight with a 46

24 Jan 2017 11:23

MOVES-Standard Life Investments appoints governance director

LONDON, Jan 24 (IFR) - Standard Life Investments, the UK-based investment manager, has appointed Deborah Gilshan as governance and stewardship director to strengthen its ESG investment team. Gilshan will report to Euan Stirling, head of stewardship and ESG (environmental, social and governa

24 Jan 2017 09:45

UBS downgrades Standard Life due to GARS fund outflows

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13 Dec 2016 13:12

Tuesday broker round-up

(ShareCast News) - British Land: Barclays reiterates overweight with a target price of 740p. GlaxoSmithKline: UBS reiterates neutral, 1600p target. Reckitt Benckiser: Jefferies reiterates buy with a 7750p target. GB Group: Berenberg reiterates buy with a 340p target. Great Portland Estates: Barcl

13 Dec 2016 11:19

MOVES-Standard Life hires Struthers as head of investments

By Steve Slater LONDON, Dec 13 (IFR) - Standard Life Investments has hired Archie Struthers from Aberdeen Asset Management to be its head of investments. Struthers will join Standard Life Investments on January 9. He was global head of investment solutions at Aberdeen. Struthers

13 Dec 2016 11:03

Standard Life Hires Head Of Investments From Aberdeen Asset Management

13 Dec 2016 10:11

Britain's FTSE edges higher though miners drop

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets) * FTSE 100 up 0.3 pct * Miners drop ahead of Fed rate decision * Standard Life falls after downgrade By Kit Rees LOND

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