March 20, 2017 / 12:38 PM / 10 months ago

Standard Life's Skeoch to run day-to-day business post-Aberdeen merger

LONDON, March 20 (Reuters) - Standard Life chief executive Keith Skeoch will manage the day-to-day running of the firm’s business following its merger with Aberdeen Asset Management, while Aberdeen’s Martin Gilbert will handle external matters, the firms said.

The two firms announced terms of an 11 billion pound ($13.62 billion) merger two weeks ago and said their current chief executives would become joint heads of the merged firm.

Analysts had expressed concern that the co-chief executive structure proposed by the firms would be unwieldy.

Skeoch will have responsibility for a number of divisions including investments and pensions, while Gilbert’s responsibilities will include marketing and distribution, the two firms said in a statement on Monday.

A chairman’s committee will be set up to ensure co-ordination is effective, chaired by current Standard Life chairman Gerry Grimstone, the firms said. ($1 = 0.8075 pounds) (Reporting by Carolyn Cohn)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below