RE: Take over Target13 Feb 2021 16:52
Standard Life Aberdeen is set to sell its flagship brand to Phoenix Group, a significant revamp of one of the City’s biggest asset managers.
The fund manager’s new chief executive Stephen Bird, who joined last year, is on the brink of agreeing a deal to sell the Standard Life name, according to Sky News.
The deal, which will reportedly be announced in the next few days, would represent a restructuring of the group’s existing relationship.
It is reported the deal will set to extend the terms of a partnership reached in 2018 and the name change is not set to take place immediately.