Aberdeen Standard Investments to run £3.7bn Virgin assets and take 50% stake in unit trust business
Strategic joint venture
Martin Gilbert, co-CEO at Aberdeen Standard Investments
Aberdeen Standard Investments (ASI) and Virgin Money are to establish a strategic joint venture in which ASI will take over the management of Virgin Money's £3.7bn retail assets, while also taking a 50% stake in the unit trust business.
The groups have agreed in principle to enter the joint venture which they said will combine Virgin Money's brand and retail distribution with Aberdeen Standard Investment's (ASI) scale in asset management...
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