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Aberdeen Asset Management

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Aberdeen Asset Management
Company typePublic (LSE: ADN)
IndustryInvestment Management
Founded1983; 41 years ago (1983)
HeadquartersAberdeen, Scotland, UK
Key people
Roger Cornick, Chairman
Martin Gilbert, CEO
Hugh Young, Head of Equities
ProductsEquities, Fixed Income and Property asset classes
Revenue£1,318.9 million (2015)[1]
£498.7 million (2015)[1]
£309.0 million (2015)[1]
Number of employees
c. 2,000
ParentAbrdn Edit this on Wikidata
Websitewww.aberdeen-asset.com

Aberdeen Asset Management PLC is an international investment management group, managing assets for both institutions and private investors from offices around the world. Its head office is in Aberdeen, Scotland. The company is listed on the London Stock Exchange and it is a constituent of the FTSE 250 Index.

History

The company was established in 1983 through a management buy-out of an investment trust.[2] It was then listed on the London Stock Exchange in 1991.[2] In recent years, it has seen significant growth from acquisitions. In 2000 it acquired Murray Johnstone, followed by Edinburgh Fund Managers in 2003, parts of Deutsche Asset Management in 2005 and 2007,[3][4] Glasgow Investment Managers in 2007, Goodman Property Investors in 2008, certain investment businesses of Credit Suisse Asset Management in 2009, and certain contracts and assets from RBS Asset Management in 2010.[2]

The Company sponsored The Boat Race between 1999 and 2001.[5] In 2010 it signed a four-year sponsorship agreement with the Dad Vail Regatta to be title sponsor until 2013, the event’s 75th Anniversary. The agreement has helped to keep the famous college rowing regatta in Philadelphia, the Group's North American headquarters.[6] In March 2012 it took over sponsorship of golf's Scottish Open for the following three years. Other sponsorships include the Cowes Week sailing regatta, Aberdeen Brunei Senior Masters Golf Tournament,[7] Edinburgh Rugby club,[8] professional golfers Colin Montgomerie and Paul Lawrie,[9] and Formula One driver Paul di Resta.[10]

In November 2013, Lloyds Banking Group sold Scottish Widows Investment Partnership (SWIP) to Aberdeen Asset Management in a £660m deal.[11] The deal made Aberdeen Asset Management the second largest listed fund manager in Europe after Schröders, currently managing £292.8bn [12] In May 2015, the firm agreed to acquire its US counterpart Flag Capital Management for an undisclosed deal that would double the private equity assets under the company’s control.[13]

Operations

An Extreme 40 class sailing catamaran, seen racing off Egypt Point, Cowes, Isle of Wight

The company operates mainly in the United Kingdom but has a growing presence worldwide, particularly Asia, Oceania and the Americas, with over 2,500 staff, across 37 offices in 25 countries. Its headquarters are in the city of Aberdeen, where Group functions including legal, group information and human resources are located, and has its major investment desks in London, Philadelphia and Singapore.

References

  1. ^ a b c "Annual Results 2015". Aberdeen Asset Management. Retrieved 28 March 2016.
  2. ^ a b c "Aberdeen Asset Management History". Aberdeen-asset.com. Retrieved 17 April 2011.
  3. ^ "Deutsche Bank signs agreement with Aberdeen Asset Management", Press Release, Deutsche Bank, 7 July 2005
  4. ^ "Deutsche Bank to accelerate Australian Asset Management growth through alternative and global product focus", Press Release, Deutsche Bank, 23 March 2007
  5. ^ "The Xchanging Boat Race: How it began". Theboatrace.org. 1 April 1915. Archived from the original on 14 May 2011. Retrieved 17 April 2011. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  6. ^ "Aberdeen Dad Vail Regatta – Aberdeen Sponsorship". Aberdeen Asset Management. Archived from the original on 6 December 2010. Retrieved 19 December 2010. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  7. ^ Aberdeen Senior Masters 2010[dead link‍]
  8. ^ "Edinburgh Rugby". Edinburgh Rugby. Retrieved 17 April 2011.
  9. ^ "Aberdeen Asset Management Sponsor Colin Montgomerie". Scottishgolfview.com. 12 January 2007. Retrieved 17 April 2011.
  10. ^ "Paul di Resta signs Aberdeen Asset Management deal". Scotsman.com. 24 May 2013. Retrieved 9 June 2013.
  11. ^ Lloyds sells Scottish Widows Investment in £660m deal BBC, 18 November 2013
  12. ^ http://www.marketwatch.com/story/aberdeen-asset-management-first-half-profit-falls-2016-05-03#:OebOcgfDfAqkqA
  13. ^ "Aberdeen boosts alternatives muscle with Flag Capital buy". Reuters. 27 May 2015. Retrieved 28 March 2016.
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