Lloyds and Schroders sign £80bn joint venture deal October 23, 2018 Lloyds Banking Group and Schroders struck one of the City’s largest ever wealth management alliances this afternoon, joining forces in a multi-billion pound deal aimed at financial planning for wealthy customers. As part of the joint venture, Schroders will take on an £80bn investment contract from Scottish Widows, which is owned by Lloyds. Schroders, which [...]
Calls for Brexit deal to protect UK asset management industry September 13, 2018 Analysts have called for the final Brexit deal to protect the asset management industry as it emerged that the value of investments managed in the UK for European clients increased by 30 per cent last year. A total of £3.2 trillion is managed in the UK for overseas clients, of which £1.8 trillion is assets from European [...]
Standard Life share price falls on hit from Osborne’s pension shake-up August 4, 2015 The insurance giant's admission that it will be hit by the government's pension shake-up sent shares down three per cent to 440.7p in mid-morning trade today. The figures In results posted this morning, Standard Life said operating profit before tax rose six per cent to £290m in the six months ended 30 June, from £274m during the same period a year earlier. The [...]
Standard Life to shut down Singapore arm June 25, 2015 Standard Life is closing its insurance business in Singapore, swallowing a £45m loss, it revealed today. The FTSE 100 company said the closure would go ahead subject to regulatory approvals, but that it was now no longer accepting new applications or contributions to existing plans. Customers in Singapore will be contacted with an [...]
Keith Skeoch to step up as David Nish quits as chief executive of Standard Life June 19, 2015 David Nish will step down as chief executive of Standard Life in August after six years in the role, the savings giant said today. He'll be replaced by Keith Skeoch, currently chief executive of Standard Life Investments. Sir Gerry Grimstone, Standard Life's chairman, said Nish had "shown great leadership over the last six years, and [...]
Standard Life assets rise in face of pensions and annuities reforms April 29, 2015 The figures Standard Life's assets under administration rose by five per cent to £311.9bn in the first quarter, as the savings and assets manager flexed its muscle in the face of new UK laws allowing savers to cash in their pension annuities. Third party net inflows of £3.7bn – 73 per cent of which came [...]
City boss Gerry Grimstone: The buck has to stop with board directors March 23, 2015 Who is to blame when a banker many tiers from the top of the firm misbehaves? The banker alone? Their manager? The boss of their division? The chief executive? It can be chaotic working out who should be punished in a vast organisation across dozens of countries and hundreds of thousands of workers. But there [...]
Standard Life annutiues slip but profits are up February 20, 2015 The figures Shares in Standard Life rose 3.4 per cent in early trading, after it posted figures showing pre-tax operating profit grew 19 per cent to £604m in 2014, as assets under management jumped 38 per cent to £296.6bn. The purchase of Ignis Asset Management helped fee-based revenue rise 14 per cent to £1.4bn, while the company [...]
Standard Life lures Countdown star Rachel Riley to pull the pub quiz crowds January 14, 2015 Moving on to pensions now, but oddly not away from pubs, it seems Standard Life is continuing its theme of using celebrities and drinking holes to get us to think about our pensions. Last month the pensions provider published a video featuring Gogglebox’s Steph and Dom, talking about their long-term savings with some people in [...]
Standard Life share price dips as annuities drop but revenues rise October 29, 2014 Insurer Standard Life stated yesterday that it was well placed to deal with changes to UK pension laws, despite reporting a 55 per cent reduction in annuity sales for the year to date (YTD). Annuity sales were down 67 per cent for the third quarter of 2014 when compared with the same period of last [...]