How Aberdeen Asset Management began and where we are today
We've been growing steadily, both through acquisitions and by expanding our own business, since we started out in 1983. We're based in Aberdeen, Scotland, and have been since the day we began.
Here are some highlights of our journey so far ...
1983: Aberdeen Asset Management began when a group of investors, including our current Chief Executive Martin Gilbert, bought out a £50 million investment trust in Aberdeen.
1991: We were listed on the London Stock Exchange under the name Aberdeen Trust PLC. (We changed our name to Aberdeen Asset Management in 1997.)
Throughout the 1990s we grew rapidly, taking on assets in Asia and Europe and setting up offices in Singapore and Hong Kong.
1997: We acquired Prolific Financial Management from Scottish Provident, which made us a UK top-10 unit trust manager.
2000: We branched out into direct property, forming Aberdeen Property Investors through our acquisition of Barclays Property investment (UK) and Celexa.
In 2000, we purchased Murray Johnstone (UK), an international equities and bonds managers, and Equitilink, an Australian manager of domestic assets and US closed-end funds.
2003: This year saw a major sale of UK retail unit trusts to New Star, bringing the company £87.5 million. This, among other acquisitions, helped us to acquire Edinburgh Fund Managers.
2005: We acquired the UK and US institutional businesses of Deutsche Asset Management.
2007: We also moved into the Australian market with additional purchases from Deutsche Asset Management, and increased our US Assets with fund management businesses from Nationwide Financial Services.
A major acquisition in 2007 was DEGI Deutsche Gesellschaft für Immobilienfonds mbH, which manages around £4.6 billion of assets in property funds.
2008: We strengthened our position in the UK, acquiring Goodman Property Investors, and announced our business alliance with Mitsubishi UFJ Trust and Banking Corporations, Japan.
2009: We completed our acquisition of asset management company Credit Suisse, which we had begun in 2008.
2010: Closer to home, we acquired assets and contracts from RBS Asset Management and RBS Asset Management Holdings.
2013: We launch our first ever global brand advertising campaign. The group acquires 50.1% stake in SVG Advisers, acquires Artio Global Investors Inc in the U.S. in May and announces the planned strategic acquisition of Scottish Widows Investment Partners in November.
2014: Aberdeen announces the completion of the acquisition of Scottish Widows Investment Partnership.
1 April 2014. Aberdeen Asset Management obtained regulatory approval for the purchase of Scottish Widows Investment Partnership (SWIP) and its related private equity business from Lloyds Banking Group, marking an important step in Aberdeen’s growth. The purchase of SWIP’s infrastructure fund management business followed a few weeks later.
As part of the acquisition, Aberdeen also entered into a long-term strategic relationship with Lloyds. This strategic relationship operates across Lloyds’ Wealth, Insurance, Commercial Banking and Retail businesses, resulting in a stronger asset management offering for customers.
The transaction increased the scale of Aberdeen’s operations conducted from Edinburgh, which was already an important component of Aberdeen’s existing business.
2015: We acquired SVG Capital plc’s stake in our joint venture vehicle, Aberdeen SVG Private Equity Managers Limited (Aberdeen SVG Private Equity). The transaction was part of our strategy to consolidate and strengthen further our alternatives platform which provides multi-manager coverage of hedge funds, property and private equity allocations, infrastructure investments and Pan-Alternative capabilities.
We also acquired FLAG Capital Management, LLC (FLAG) to boost global alternatives capability and establish a strong alternatives footprint in the US.
At the end of the year we acquired Advance Emerging Capital (AEC) as part of our drive to strengthen our alternative product offering.
2016: We acquired Arden Asset Management LLC (Arden) a provider of hedge fund solutions with offices in New York and London.
Closer to home we acquired Parmenion to accelerate our digital ambitions and to augment our Investment Solutions business.