Standard Life Sells Hong Kong Arm
Standard Life has agreed to sell its Hong Kong arm, Standard Life Asia to Chinese joint venture, Heng An Standard Life Insurance Company. In the space of two weeks, Heng An is the second mainland firm to buy a Hong Kong based insurance company.
“Standard Life has agreed to sell its Hong Kong arm Standard Life Asia to Chinese joint venture.”
The transaction will need approval from regulators both in Hong Kong and China and will take about 18 months.
News Source: South China Morning Post
About Standard Life Investments
Standard Life Investments is a leading asset manager with an expanding global reach. Standard Life Investments manages £269.0 billion* on behalf of clients worldwide. Our investment capabilities span equities, bonds, real estate, private equity, multi-asset solutions, fund-of-funds and absolute return strategies. Headquartered in Edinburgh, Standard Life Investments employs more than 1,100 talented professionals. We maintain a presence in a number of locations around the world including Boston, Hong Kong, Paris, London, Beijing, Sydney, Dublin and Seoul. In addition, we have close relationships with leading domestic players in Asia, including HDFC Asset Management in India and Sumitomo Mitsui Trust Bank in Japan.
- Origin: Edinburgh, United Kingdom
- Assets: 269 billion GBP
- Revenue: 8.892 billion GBP
- Employees: 6,500
Official Website: www.standardlifeinvestments.com
News & Media: Press Release
Updated on 8th August 2016