• Text size      
  • Send this article to a friend
  • Print this article

Phoenix results expected amid Ignis sale speculation

Phoenix Group announces its results this morning amid speculation that it will unveil the sale of Ignis Asset Management to Standard Life.

The Edinburgh-based group confirmed at the weekend that the two companies were in "advanced talks", sparking an expectation the deal had been readied for announcement today.

Ignis is valued at around £400 million, and is seen as a way for owners Phoenix Group to help pay down its £2 billion of debt, while Ignis's £68billion of assets would add more than a third to the £184bn at Standard Life Investments.

Ignis employs 249 in Glasgow and supports 140 jobs at HSBC after an outsourcing deal in 2011. Chris Samuel, Ignis chief executive, said in an upbeat assessment last August: "All the areas are growing most aggressively at the moment are Glasgow-based."

Contextual targeting label: 
Business

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

222049