Standard Life is back. The historic name has been officially adopted by Phoenix Group and the retirement specialist will use the brand for its listing on the London Stock Exchange from today.
The company said the move to Standard Life supports the organic growth strategy of the pensions and savings and retirement solutions businesses that already trade under the Standard Life brand.
Since Phoenix Group bought the brand, it has built key positions in a number of markets including workplace pensions, individual annuities and pension risk transfer.
The rebrand represents one of the most extraordinary shifts in Scotland’s life and pensions sector. Standard Life is one of the oldest names in the financial services industry and while it will operate from its former head office in Lothian Road, Edinburgh, the original business is now based in its historic offices in George Street which are now the head office of Aberdeen Group.
That company was a rebrand of the short-livd Abrdn which, in turn, was a rebrand of Standard Life Aberdeen. formed in the merger of Standard Life and Aberdeen Asset Management. The company sold the Standard Life brand and assets to Phoenix when it became Abrdn.
Andy Briggs, chief executive, said: “For more than 200 years, Standard Life has stood beside its customers, helping them plan and prepare for their long-term financial futures. Today, as Standard Life plc we are proud to manage £300 billion in assets on behalf of 12 million customers.
“Over the next ten years, we will help three million more customers take action to achieve better retirement outcomes.”
An extensive consumer brand campaign ‘For the life we live’ has also been launched – a national multi-media campaign featuring TV, radio, newsprint, digital and social advertising. It will run for ten weeks with the aim of strengthening the Standard Life brand at key customer decision points in people’s journey to and through retirement and helping inspire customers to engage with their financial futures.
Customer brands within the group, including SunLife, Phoenix Life and ReAssure, will continue to invest in customer service and operate as normal. This move will see no change as part of the structure of the Group, or the legal entity.
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