ABRDN plc, formerly Standard Life Aberdeen plc, is a United Kingdom-based global investment company headquartered in Edinburgh, Scotland. The company was established in 1819 and is listed on the London Stock Exchange. It operates through three divisions: UK, Continental Europe, and North America, thereby providing a range of investment solutions to individuals, businesses, and institutions. The company employs over 22,000 people across its regions. ABRDN has also undertaken several investments in recent years, including AIM-listed ELF Group plc (Elf Resources Ltd), ACP Capital Partners plc, FilmEngine Ltd., Living Ventures Ltd., Starlighter Education Trust plc, and Cambridge Retail CBT Trust.
ABRDN is the world’s oldest life insurer, with origins dating back to the formation of Aberdeen University in 1495. In 1819, Aberdonians raised £72,000 to establish the Provident and Accumulating Fund for the Benefit of the Poor. This was later renamed the Standard Life Assurance Company in 1825. In the early 20th century, it created the UK’s first telephone advice service and, in 1978, was one of six companies in Scotland to form the Scottish Pacific Investment Group (SPIG). SPIG created Scottish Widows plc in 1985 through a merger with Commercial Union Ltd.
In October 2000, ABN AMRO and Scottish Widows acquired Standard Life from its parent company, Standard Life Assurance Co. Ltd., for £4 billion. The transaction was the largest takeover by a foreign financial institution in UK corporate history and the largest seizure of a life insurer worldwide.
In June 2003, Standard Life announced that it was again poised to be acquired for £4 billion, this time by Dutch bank ABN AMRO. The acquisition was completed on November 2, 2003. In January 2005, ABN AMRO announced that it intended to break up Standard Life into four separate entities, including Standard Life UK plc, Standard Life Continental Europe plc (which included Standard Life Belgium SA), Standard Life North America, and Standard Life Investments Ltd. The company has remained unbranded since January 2005 as it underwent an independent assessment for potential sale by its parent.