Regulatory Story
Go to market news section View chart   Print
RNS
Standard Life Aberdeen plc   -  SLA   

Successful outcome to arbitration

Released 07:00 19-Mar-2019

RNS Number : 2733T
Standard Life Aberdeen plc
19 March 2019
 

 

Standard Life Aberdeen plc

Successful outcome to arbitration

 

Standard Life Aberdeen plc ("Standard Life Aberdeen" or "the Company") announces that the arbitral tribunal established in respect of the dispute between the Company and Lloyds Banking Group / Scottish Widows ("LBG") has ruled in favour of the Company.  In particular, the arbitral tribunal has ruled that LBG was not entitled to give notice, on 14 February 2018, to terminate the investment management agreements in respect of assets managed by members of the Standard Life Aberdeen group.  

The Company is carefully considering the terms of the decision and appropriate next steps.  In the meantime, the Company will continue to manage the assets in the best interests of LBG's customers.

As at 31 December 2018, the value of the assets under management in respect of these arrangements was c£100bn, and no material amount of assets has since been withdrawn. 

Keith Skeoch, the Chief Executive of Standard Life Aberdeen, said: "Now that the arbitration panel has ruled in our favour, we will carefully consider our next steps, working constructively with LBG to bring the matter to resolution."

 

19 March 2019

 

 

 

Enquiries


Media:

James Thorneley

 

 

Iain Dey,

John Kiely (Smithfield)

 

+44 (0) 20 7463 6323

+44 (0) 7768 556 334

 

0203 047 2528 / sla@smithfieldgroup.com

 

 


Institutional Equity Investors:

Jakub Rosochowski

 

 

Neil Longair

 

 

 

+44 (0) 131 245 8028*

+44 (0) 7515 298 608


+44 (0) 131 245 6466*

+44 (0) 7711 357 595



Group Secretariat:

Paul McKenna

 

+44 (0) 131 245 1168*



                                                                                               

* Calls may be monitored and/or recorded to protect both you and us and help with our training. Call charges will vary.

Standard Life Aberdeen plc LEI: OTMBS544NMO7GLCE7H90

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCSFSSMUFUSELD
Close


London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

 


Successful outcome to arbitration - RNS