Standard Life Wealth has undergone a major rebrand almost two years after its parent merged with Aberdeen Asset Management.
The company has rebranded to Aberdeen Standard Capital (ASC) in a move designed to both better reflect what the company does and its ties with £557 billion institutional asset management giant Aberdeen Standard Investments.
The rebrand was always on the cards following the merger of Standard Life and Aberdeen Asset Management in March 2017. Last May, Standard Life Wealth CEO Richard Charnock described the name as the 'elephant in the room' after other parts of the business had been rebranded following the merger.
However, Charnock said it was not the only reason the management team wanted a brand refresh. One of the big decisions was to drop the Wealth name from the title.
‘It was partly because of the rebrand, but we need a label and a descriptor that better sums up what we do,' Charnock said.
'I think the word ‘wealth’ has moved on and for a lot of people it describes financial planning and we only offer discretionary investment management. We needed a brand that was more contemporary and better reflects what we do.'
He added: ‘The brand emphasises there is a connection between the businesses to show we have got a clear link to all of the institutional expertise of a global asset manager that runs over £500 billion around the world.’
ASC, which was established in 2008, now has £6.5 billion of assets under management, running money for private clients, pensions, trusts and charities.