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Phoenix Group, the UK’s largest savings and retirement business, is nearing a decision to rebrand as Standard Life, in a move that would bring the historic brand back to the London Stock Exchange.
The FTSE 100 pensions provider is mulling a name-change within the next 12 months, according to a person familiar with the situation.
“Standard Life is a strong brand with 200 years of history and the brand we are using to grow our business across three markets,” a Phoenix spokesperson said in a statement, adding that the change had not yet received approval from the Board.
Standard Life traces its roots back to 1825 as an assurance company in Edinburgh.
The group, which expanded more broadly into insurance and fund management, merged with asset manager Aberdeen in 2017 to create one of the largest investment houses in Europe at the time.
Under former chief executive Stephen Bird, the group switched names from Standard Life Aberdeen to Abrdn, although the rebrand was widely mocked. The company returned to the Aberdeen name earlier this year.
The fund manager sold the Standard Life brand to Phoenix Group in 2021 as part of a strategic partnership between the two companies.