The merger of Aberdeen Asset Management PLC and Standard Life plc has completed today, to be known as Standard Life Aberdeen plc.

The combined entity will be headquartered in Scotland.

This merger will form one of the world’s largest investment companies with assets under administration (AUM) of RM3.7 trillion (US$871 billion).

The deal between the two companies was first announced on March 6, 2017.

The merger harnesses Standard Life’s and Aberdeen’s complementary, market leading investment and savings capabilities and creates an investment group with strong brands and leading institutional franchises.

The Group’s investment business, Aberdeen Standard Investments, manages RM3.2 trillion (US$758 billion) worth of assets.

This newly combined business will retain a long standing commitment to active investment management with a similar investment culture and approach.

Active investment managers in Europe and elsewhere is watching this news with caution as a size this big would offer mixed reactions. A large size offers considerable growth opportunities, but lack the nimbleness of a fast-moving investment world.

The Group’s pensions and savings business, Standard Life, has around 4.5 million customers and is based primarily in the UK, with operations in Ireland and Germany.

The business has established a market-leading position through a long-term commitment to support the needs of employers and their employees.

Over one in six people auto-enrolled into a workplace pension in the UK enjoys the benefits of a Standard Life workplace pension.

Overall, Standard Life Aberdeen will have offices in 50 cities around the world, servicing clients in 80 countries. It has a market cap of over RM60 billion (US$14.3 billion)

Standard Life Aberdeen CEO, Keith Skeoch says “today marks the culmination of many months of hard work and preparation by our business, and the beginning of a new chapter in our history as Standard Life Aberdeen plc”.

He continues saying that their “leadership team is in place and have full business readiness from day one”.

Standard Life Aberdeen CEO, Martin Gilbert added “as ever our priority remains the delivery of strong investment performance and the highest level of client service. The merger deepens and broadens our investment capabilities, and gives us a stronger and more diverse range of investment management skills”.

Standard Life Aberdeen has operations in 50 locations worldwide and employ around 9,000 people. They manage, administer and advise on over RM3 trillion (US$871 billion) worth of assets worldwide.