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Standard Life sets sight on Dublin for EU hub

The existing operation in Dublin would be developed under this scenario to ensure its products and services can be sold through a fully regulated subsidiary, chairman Gerry Grimstone said in the text of a speech given to shareholders at the firm’s annual general meeting on Tuesday.

 “The most likely scenario – and the one we are now working towards – is using our Dublin-based operation to continue to support our European customers and clients,” he said.

“We are now working through the regulatory matters and other arrangements we would need to put in place to facilitate this.”

Earlier this month, the insurance and investment company also announced that following the £11bn mammoth merger, it will be renamed as Standard Life Aberdeen.

Standard Life also revealed that it had lost £5m (€5.9m, $6.4m) last year from its wholly-owned business in Hong Kong as it confirmed that more than 800 jobs would be lost in the immediate aftermath of the merger.

 

Mark Battersby

Mark Battersby is head of content research and development at Last Word. Mark joined Last Word in February 2012, having previously worked at Citywire, Interactive Investor International, and FT Business.

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