Standard Life Aberdeen Share Discussion Threads

[njw2] 21/2/2018 09:21

Any ideas why the drop this morning ?

[pal44] 20/2/2018 19:51

CI that would be Happy New Year .. lolMan .

[rathlindri] 20/2/2018 12:58

That would be nice...

[chinese investor] 20/2/2018 12:47

I still stand by this !

Chinese Investor (SLA) 19 Feb '18 - 12:36
£4 by the end of the week !

[chinese investor] 20/2/2018 12:43

70p to 450p !

[chinese investor] 20/2/2018 12:15

I sense a 7am RNS !

[chinese investor] 20/2/2018 11:48

Bloomberg February 19 at 6:33 AM


Lloyds Banking Group Plc and Standard Life Aberdeen Plc have fallen out after talks to merge their insurance businesses fell apart.

But the two have left the door open to overcoming their differences and getting the deal back on track.

News of the failed talks fills in some of the background to Lloyds’s announcement last week that it plans to pull 109 billion pounds ($153 billion) of insurance assets managed by SLA.

That contract predated Standard Life’s merger with Aberdeen last year.

The merger of the two fund managers created a “material̶1; competitor, which Lloyds said allowed it to annul the arrangement.

In a statement, Lloyds said it would seek a different partner to manage the cash pile.

But it also praised Aberdeen’s stewardship of the assets, and said it would “welcome their participation in the review if Standard Life Aberdeen is able to resolve the competition issue.”

In other words, if the insurance dalliance can be put back on track, then that 109 billion pounds might not walk out of the door.

The discussions faltered because Lloyds wanted majority control -- and presumably a bigger share of the profits -- while SLA was pushing for an equally-owned joint venture.

Insurance contributed 822 million pounds of first-half 2017 revenue at Lloyds and 408 million pounds of pretax income, representing a bit less than 10 percent of both measures.

The breakdown of the talks means Lloyds executives will be busy rewriting the slides for the strategy day the company is scheduled to host on Wednesday.

A merger of its insurance unit with SLA, which the pair began to discuss in mid-2017, would have been the center-piece.

SLA, meantime, reports its first post-merger results on Friday.

Lloyds’s announcement last week that it was planning to withdraw its insurance assets wiped 7.5 percent off SLA’s share price that day, though it’s recouped some of those losses in the two most recent trading sessions.

Investors, it seems, aren’t keen on seeing almost a fifth of SLA’s total assets under management disappear, even though the low margins on the mandate means the knock-on hit to SLA’s profit will only be about 5 percent.

Lloyds, though, may struggle to find another manager willing to take on such a low-fee asset pool.

“There’s still a possibility that we will manage the money,” SLA co-CEO Martin Gilbert told Bloomberg Television last week. If the pair can build an insurance merger on terms acceptable to both, that possibility may become a reality.

[chinese investor] 20/2/2018 11:29

So Was It Just A Lover's Ploy ?

[chinese investor] 20/2/2018 09:09

Up From Here !

[chinese investor] 20/2/2018 08:13

Great Start !

[chinese investor] 19/2/2018 14:59

I'll be happy if it stays above 370p !

[giant haystacks] 19/2/2018 12:43

A perfect 45%.
I've never seen one before.

[chinese investor] 19/2/2018 12:36

£4 by the end of the week !

[russell crowe] 19/2/2018 12:12

Final results on Friday.

[chinese investor] 19/2/2018 12:04

When directors' egos run riot anything can happen !

[chinese investor] 19/2/2018 11:44

I sense an imminent huge announcement from Lloyds !

[toolsmoker] 19/2/2018 11:41

Looks like something on the cards here

[chinese investor] 19/2/2018 11:37

Looking Good !

[chinese investor] 19/2/2018 11:27

80p to 450p !

[chinese investor] 19/2/2018 09:24

The discussions are understood to have commenced in June, just after the mega-merger between Standard Life and Aberdeen Asset Management was approved.

At the time, The Times reported that a follow-up deal for Scottish Widows was the brainchild of Aberdeen chief executive Martin Gilbert and Standard Life chairman Sir Gerry Grimstone.

It is said that Lloyds boss Antonio Horta-Osorio felt he had little choice but put the mandate on the market last week after negotiations foundered.

The Lloyds mandate represented a substantial chunk of the £646.2 billion Standard Life Aberdeen reported managing at the end of last year.

The cash was run within the company following the Aberdeen group’s 2013 acquisition of Scottish Widows, which was hailed at the time as creating a key strategic partnership for the business.

‘We are disappointed by this decision in the context of the strong performance and good service we have delivered for LBG, Scottish Widows and their customers,’ Aberdeen Standard Life co-chief executives Keith Skeoch and Martin Gilbert said in a statement following the news.

In its statement Lloyds said it was uncomfortable the assets were being run by a ‘material competitor’ following the merger of Standard Life and Aberdeen. '[Therefore] we will begin an in-depth assessment of the market to identify a long-term strategic partner, or partners, to manage the current £109 billion of assets,’ the bank said.

[chinese investor] 19/2/2018 08:15

83p to 450p !

[chinese investor] 19/2/2018 08:02

Interesting times ahead !

[speedsgh] 18/2/2018 17:03

Lloyds killed plan for £300bn Standard Life insurance merger - HTTPS://news.sky.com/story/lloyds-killed-plan-for-300bn-standard-life-insurance-merger-11254370 Britain's biggest high street bank killed off secret plans for a life insurance merger administering roughly £300bn of client assets following a row over the new venture's ownership structure.Sky News has learnt that Lloyds Banking Group and Standard Life Aberdeen (SLA) had reached an advanced stage of talks about pooling their respective life insurance operations into a subsidiary of the ?bank.The venture would have been roughly 60%-owned by Lloyds, with the remainder owned by SLA.The bank would have supplied both its chairman and chief executive, according to insiders...

[chinese investor] 18/2/2018 11:25

Dr Biotech,
An increase in the dividend would be most welcome (and it would also send a message to Lloyds).

[dr biotech] 18/2/2018 11:11

Div increase on the cards to hide mediocre performance?