Standard Life buys Glasgow rival Ignis

Standard Life Investments completed their takeover of Ignis Asset Management.  'Picture: Neil Hanna
Standard Life Investments completed their takeover of Ignis Asset Management. 'Picture: Neil Hanna
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Standard Life Investments has completed its takeover of Glasgow-based rival Ignis Asset Management after the City regulator cleared the £390 million deal.

Ignis, formerly a subsidiary of life assurer Phoenix, employs about 360 people across offices in Glasgow and London and managed £59 billion of assets at the end of December.

SLI chief executive Keith Skeoch said: “The acquisition of Ignis is another step in SLI’s growth story.”