Daily Mirror

MERGER 1

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Standard Life and Aberdeen Asset Management completed their £11billion mega merger yesterday. The tie-up creates Europe’s second-biggest fund manager.

Co-chief executive Keith Skeoch described the combinatio­n as the “beginning of a new chapter” in the history of the companies, and confirmed that the new entity will trade as Standard Life Aberdeen.

The enlarged company will be jointly headed up by Skeoch and Aberdeen boss Martin Gilbert.

The merger, which was agreed in March, is targeting cost savings of £200 million a year, with around 800 jobs expected to be lost over a three-year period from a global workforce of 9,000.

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