Aberdeen Group has completed a secondary placement of 52 million Standard Life shares at 839 pence each, raising approximately £436 million in gross proceeds. The transaction, announced on 8 October 2026, represents about 5.2% of Standard Life's issued share capital. Following settlement on 12 October 2026, Aberdeen will retain an equal 5.2% stake in Standard Life, effectively halving its previous holding without fully exiting the position. Aberdeen plans to allocate the proceeds according to its capital allocation strategy, focusing on balance sheet strength, selective investments, debt reduction, and shareholder returns. The company has not provided specific targets or timelines for these allocations. Evercore Partners International served as lead financial adviser, whilst Goldman Sachs International and J.P. Morgan Cazenove acted as joint global coordinators and bookrunners. Standard Life was not involved in the placing and will receive no proceeds.

Aberdeen Group names Torbjörn Magnusson as next chair. Replaces the outgoing Sir Douglas Flint 09 September 2026 Aberdeen Group has appointed Torbjörn Magnusson to its board as a non-executive director and chair-designate from today (9 September 2026). Magnusson will replace the outgoing Sir Douglas Flint, following relevant regulatory approvals. This follows the decision made last year that Flint would stand down by the 2026 AGM. Jonathan Asquith has been serving as interim chair and will continue in the role until Magnusson takes up the post. Magnusson will receive a fee of £475,000 per annum. His extensive CV includes non-executive director roles at Canopius Group and Hastings Group, where he was previously chair. He was also chair of Nordea Bank from 2019 to 2022 and deputy chair from 2022 to 2023, representing the bank's largest shareholder, Sampo Group. Asquith said: "Portfolio Adviser is delighted to have Torbjörn joining the board as non-executive director and chair-designate. He is a highly regarded and versatile international business leader who brings more than 30 years of leadership experience spanning a breadth of CEO, non-executive director, and chair roles across large financial services businesses. "Torbjörn has a particularly strong track record of delivering growth and creating shareholder value over many years in businesses serving personal and corporate customers. "He knows the opportunities and challenges emerging from the fast-changing dynamics of the financial services industry. He also understands the complex stakeholder environment of running a modern listed company and has direct experience of working in the UK regulatory framework." Magnusson said: "Aberdeen already plays a vital role in helping millions of people turn their financial goals into reality, and with the wealth and investments markets set to grow substantially over the next few years, there are exciting opportunities ahead. "Aberdeen has transformed its performance materially over the last few years, building the foundations for long-term value creation." MORE ARTICLES ON