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Future of Standard Life Aberdeen brand called into question by expected Phoenix Group deal
‘It looks as if the business wants to have a clearer identity that consigns some of its history to the archives’
Fund buyers say the reported sale of the Standard Life brand to Phoenix Group is further evidence of the former’s newly minted chief executive Stephen Bird carving out a clearer identity for the firm, but they view underlying product quality as more important than a name.
It comes after the future of the Aberdeen Standard Investments name established by the £13bn merger of Standard Life and Aberdeen Asset Management in 2017 was called into question by a proposed deal with Phoenix Group, the life insurer.
"Standard Life and Phoenix sounds like a marriage made in hell." That was the immediate response of one financial planner when news broke last night that Standard Life could potentially be selling its name to Phoenix.