Operating across three vectors that reflect how our clients interact with us, abrdn has the full ecosystem of capabilities to enable our clients to be better investors.
It starts with us – how we invest today shapes the world we live in tomorrow. Find out about our corporate sustainability priorities and activities.
Keep up to date with news, announcements, and insights from across our business.
Access share price information, recent news and announcements, financial results and a range of other resources.
See our career opportunities and learn more about our internships and graduate programs.
This field is required
Find out more about our leadership team and the corporate governance standards that we follow.
Learn more about how we put diversity and inclusion at the core of our business.
From investors and shareholders to careers and corporate sustainability – find out how you can get in touch.
Learn more about how we’re integrating environmental, social and governance principles across our business.
Read or download our reports and policies.
Up-to-date market and industry news.
Find contact information, media assets, or join a media call.
Get communications, contact details, and important information.
Find key dates, and access our archive of announcements, reports, and presentations.
Get share price and dividend information as well as company insights and newsletters.
Learn more about our graduate programs, traineeships, and internships.
Find out what it's like working with us, see our vacancies, and apply online.
Get in touch or find answers to your most frequently asked questions.
After announcing an agreement in principle for the strategic joint venture on 20 March 20182, Virgin Money and ASI today confirm that they have signed a conditional agreement for the sale by Virgin Money to ASI of 50 per cent (less one share) of VMUTM and agreed the key terms of the strategic joint venture offering market-leading investments and pensions propositions.
The proposed joint venture, subject to regulatory approval, will combine Virgin Money’s brand, scale and retail distribution expertise with ASI’s market-leading investment solutions and asset management technology and digital expertise.
As a result of CYBG’s acquisition of Virgin Money in October 2018, the joint venture will now, over time, offer investment solutions to CYBG’s combined customer base of six million customers, expanding beyond Virgin Money’s existing three million customer base.
Under the terms of the SPA, Virgin Money will, subject to certain conditions (including regulatory approval), sell ASI 50 per cent (less one share) of VMUTM for an upfront cash payment of £40 million plus 50% of an amount representing: (a) the capital in the business at completion3; and (b) certain other costs.
The joint venture will enable Virgin Money to provide customers with access to a broader range of funds and solutions at a competitive cost, and is expected to transform Virgin Money’s retail investment proposition, driving significant growth in funds under management and capital-efficient returns as well as offering excellent value for shareholders.
David Duffy, Chief Executive of CYBG, owner of Virgin Money, Clydesdale Bank and Yorkshire Bank, said:
"We are delighted to take the next step forward in our partnership between Virgin Money and Aberdeen Standard Investments, enabling us to provide innovative and attractive investment solutions across the Group’s six million customer base, through our national distribution. Using our brand and customer reach, combined with ASI’s clear asset management strengths we will be able to provide a truly compelling investment and pensions proposition to our retail customers."
Martin Gilbert, Co-Chief Executive at Aberdeen Standard Investments, said:
"The signing of the SPA that encompasses Virgin Money, Clydesdale Bank and Yorkshire Bank customers is an important milestone in progressing our joint venture with Virgin Money. The partnership offers a fantastic opportunity to develop a business that combines the best talents of Virgin Money and ASI. Most importantly, the joint venture will offer customers across the enlarged CYBG group, beyond Virgin Money’s existing customer base with investment solutions to help them achieve their long-term financial goals."
1. Virgin Money Unit Trust Managers Limited (VMUTM) is the entity which holds Virgin Money’s Investments and Pensions business offering a range of investment products, including unit trusts, pensions and stocks and shares ISAs.
3. For the purposes of calculating the consideration, intangible assets will be excluded from the capital figure to the extent any remain in VMUTM on completion.
Copyright © abrdn plc 2023. All rights reserved.
abrdn plc is registered in Scotland (SC286832) at 1 George Street, Edinburgh, EH2 2LL