trending Market Intelligence /marketintelligence/en/news-insights/trending/-78njtKsatEAhIrTryKsaQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Virgin Money agrees to JV with Aberdeen Standard Investments

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

Virgin Money agrees to JV with Aberdeen Standard Investments

Virgin Money Holdings (UK) PLC agreed to a strategic joint venture with Standard Life Aberdeen PLC's Aberdeen Standard Investments to provide asset management services to Virgin Money's customers.

Under the terms of the joint venture, Aberdeen Standard Investments is expected to acquire 50% of Virgin Money Unit Trust Managers Ltd. for a cash payment in excess of £40 million. The agreement, which is subject to further due diligence, regulatory and relevant approvals, and agreement of definitive contracts, is expected to result in an increase of about 40 basis points in Virgin Money's common equity Tier 1 ratio.

The deal, which is expected to complete by 2018-end, will see the Standard Life Aberdeen asset management unit provide fund management and digital technology services, while also broadening Virgin Money's retail investment proposition. Virgin Money has more than 200,000 retail investment customers and £3.7 billion in AUM.