$1 Trillion Dream Sours for Standard Life on Lloyds Move
- Standard Life Aberdeen shares decline as much as 9.8 percent
- Loss of Lloyds assets may lead firm to look abroad for growth
The Standard Life Plc head office in Edinburgh, U.K.
Photographer: Matthew Lloyd/BloombergThis article is for subscribers only.
Martin Gilbert and Keith Skeoch’s $1 trillion dream has grown a little more distant.
Six months after merging Scotland’s two biggest money managers to create a giant capable of competing with the largest U.S. companies, the co-chiefs of Standard Life Aberdeen Plc are instead digesting the potential loss of almost 20 percent of the funds at their asset-management business.