M&A: the ‘new normal’ in UK asset management
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?
Abrdn
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PEOPLE MOVES: Standard Life/Aberdeen, Killik, OMGI
Standard Life and Aberdeen have clearly defined the roles co-chief executives Keith Skeoch and Martin Gilbert will fill once the companies merge. Killik & Co’s Sarah Lord surprised many this week by announcing plans to move on from the company, while OMGI has parted ways with its fixed income head.
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PEOPLE MOVES: Standard Life/Aberdeen, RWC Partners, Zedra
New senior management team unveiled for the soon to be merged Standard Life and Aberdeen Asset Management. Amundi has appointed a head of consultant relations, with Zedra hiring an executive director to target growth opportunities.
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PEOPLE MOVES: Deutsche Bank, RLAM, J. Safra Sarasin
After Deutsche Bank’s head of anti-financial crime stepped down just six months into the job, the German bank has named his replacement. RLAM has created a global equity team by poaching three staff from Waverton IM, while J. Safra Sarasin has a new managing director for client advisory in Hong Kong.
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Frontier markets growing faster than EMs, says Templeton
Frontier markets are growing at a much faster pace than emerging markets, according to Mark Mobius, executive chairman of the Templeton emerging markets group.
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Aberdeen picks Abu Dhabi for first Middle East office
Aberdeen has become the first international asset manager to open an office in Abu Dhabi Global Market (ADGM), the new international financial centre in the capital of the UAE, after being granted a license by the Financial Services Regulatory Authority (FRSA).
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M&G and Aberdeen still in the doghouse
Tilney Bestinvest’s “Spot the Dog” report names M&G Investments as the firm with the highest number of assets in underperforming funds and Aberdeen Asset Management as the fund house with the most ‘dog funds’.
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Aberdeen has deeper problems than property outflows
Aberdeen saw outflows of £1.5bn ($2bn, €1.8bn) from its property funds in the three months to June, but some analysts see this as merely a “sideshow” to deeper problems.
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Aberdeen lowers dilution adjustment on UK Property
Aberdeen has reduced the dilution adjustment on its UK Property Fund and its feeder unit on the back of slowing redemptions the firm said.
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Aberdeen lifts trading suspension on UK property fund
Aberdeen Asset Management has lifted the trading suspension on the Aberdeen UK Property Fund.
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LGIM, Aberdeen levy exit penalties on UK property funds
Aberdeen Asset Management and LGIM have announced a 17% and 15% value cut on their respective commercial property funds, following suspensions on trading by the UK’s largest property funds.
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Consolidation set to move up asset management agenda
Further asset management consolidation is on the horizon but the line between predator and prey is increasingly blurred Numis said in a note on Friday.