Standard Life repeats ‘Yes’ vote quit threat

Standard Life employs 5000 people in Edinburgh
Standard Life employs 5000 people in Edinburgh
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INSURANCE giant Standard Life is making “detailed preparations” to move parts of the business out of Scotland in the wake of a ‘Yes’ vote in the independence referendum.

The Edinburgh-headquartered firm, which employs 5000 people in the Capital, warned previously that it could quit the country if it splits from the UK.

Chairman Gerry Grimstone said on Tuesday that it was planning to register companies in England to transfer its businesses.

Speaking to shareholders, he reiterated the company’s position that it would take whatever action it saw fit to protect the interests of customers and shareholders.

Mr Grimstone said: “We would not hesitate for example to move parts of our operations to England, where the majority of our customers are located, or move the registration of our funds.”