UK-based asset management firm Standard Life Aberdeen (SLA) is still looking for a buyer to take over its adviser platform Parmenion.
Reports of the sale first emerged in November 2020, with rumours claiming that the firm was going to launch an auction on the London Stock Exchange at the end of that month.
SLA said in its 2020 results on 9 March 2021 that it is looking at “simplifying the business” through the proposed sale of Parmenion, one of the group’s three adviser platforms.
Stephanie Bruce, chief financial officer at SLA, also said that the decision to put Parmenion up for sale is part of the firm’s reorganisation strategy “to address those areas of lower contribution”.
These include the US and Apac businesses and the proposed sale of SLA’s Nordics real estate operations.
It is believed that SLA could make between £150m to £200m ($276m, €232m) from the sale of the platform.
