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How it started
History
In March 2017, Standard Life reached an agreement to merge with Aberdeen Asset Management, in an all-share merger, subject to shareholder approval. The merged company was named Standard Life Aberdeen.
In May 2017, Standard Life acquired the loss-making AXA Portfolio Services for £31 million. This company housed AXA Elevate, the investment platform from Axa. At the time of acquisition the platform held £9.8 billion of client assets, boosting the total level of assets held on Standard Life platforms to £36.4 billion.
In October 2017, it was reported that there had been withdrawals of $10 billion from Standard Life Aberdeen's mutual funds over the prior year.
In February 2018, Standard Life Aberdeen initiated the sale of the Standard Life insurance business to Phoenix Group for £3.2 billion, marking a transition away from its insurance roots to asset management. In April 2018, Aberdeen Standard Investments announced the acquisition of ETF Securities' US exchange-traded funds ('ETF') business in an effort to build a presence in the US ETF market.
Sir Gerry Grimstone stepped down as chairman on 1 January 2019 and was succeeded by Sir Douglas Flint.
From Wikipedia’s article on Abrdn, shared under CC BY-SA 4.0.2