Edinburgh life and pension rivals Standard Life and Scottish Widows are reportedly in merger talks, with an agreement potentially following swiftly on the heels of Standard Life’s £11bn deal with Aberdeen Asset Management.
The headlines say fund groups’ profits fell, but what else can we learn from McKinsey & Company’s Asset Management 2017 report into the European funds industry?
Jersey-headquartered JTC Group has acquired Merrill Lynch Wealth Management’s International Trust and Wealth Structuring (ITWS) business, which provides the administration of trust services for the firm’s international advisory clients.
A UK government watchdog has announced an investigation into the merger of Standard Life and Aberdeen Asset Management, to ensure it does not damage competition in the industry.
South Africa’s financial services group Sanlam and leading insurer Santam have increased their stake in Morocco’s SAHAM Finances for $329m (£254m, €298m).
The National Australia Bank has announced the sale of its private wealth business in Singapore and Hong Kong to Singapore’s OCBC.
Aviva will sell interests in two bancassurance agreements and a life business to Santalucia, raising €475m (£403m, $517m), as the UK insurer looks to wind down its operations in Spain.
China Pacific Insurance Co. (CPIC), the country’s third largest life insurer, has bought a 51% stake in Chinese fund management company GTJA Allianz Fund Management and will share ownership of the firm with Germany’s Allianz.
US-based investment manager Invesco has announced a deal to buy one of Europe’s major Exchange Traded Product (ETP) providers, Source.
The merger of Standard Life and Aberdeen is a sign of the times in asset manager consolidation, but who will be the winners and losers from the trend?
Schroders is set to expand its private equity business through the acquisition of Swiss-based private equity firm Adveq Holding for an undisclosed sum.
Private equity firms KKR & Co and Stone Point Capital have announced plans to take a majority stake in Focus Financial Partners, a US-based network of independent fiduciary wealth management firms, in a deal worth $2bn (£1.6bn, €1.9bn).
