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.
2012: Aberdeen Asset Management PLC joins the FTSE 100 for the first time.
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.
Group management board member Gary Marshall returned to Edinburgh from Philadelphia after leading the US offices and the Americas business for four years to succeed Martin Gilbert as the CEO of SWIP. A qualified actuary, Gary joined Aberdeen in 1997 with the acquisition of Prolific Financial Management from life company Scottish Provident.
The transaction was significant for the long-term prospects of Aberdeen in a number of ways. It strengthened our investment capabilities and added new distribution channels. The acquisition of SWIP added scale to our existing business across a range of asset classes, including fixed income liquidity solutions, active equity management and alternatives investments such as property, private equity and infrastructure.
The transaction also increased the scale of Aberdeen’s operations conducted from Edinburgh, which was already an important component of Aberdeen’s existing business.