June 25, 2018 / 10:23 AM / in 10 months

UK government needs to provide more certainty on Brexit - SLA's Grimstone

EDINBURGH, June 25 (Reuters) - The chairman of Standard Life Aberdeen said on Monday that although the government is listening to the voice of business on Brexit, more certainty was needed.

“We are now 9 months away and we have no further certainty (than a year ago),” Gerry Grimstone said, speaking ahead of a shareholders meeting.

He said SLA, one of Britain’s biggest asset managers, would be ready for “a hard Brexit if that is where we get to.”

SLA, created via the 11 billion pound merger of Standard Life and Aberdeen Asset Management last year, had made itself more global by merging, and given itself a Brexit hedge, he said.

“Global businesses have more scope for opportunities post- Brexit than British businesses. In that sense the Aberdeen acquisition was a hedge against Brexit.”

Reporting by Elisabeth O'Leary; Editing by Emma Rumney

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