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Phoenix Group plotting rebrand to Standard Life - report
(Sharecast News) - Pensions provider Phoenix Group is reportedly plotting to rebrand itself using the historic Standard Life name it acquired four years ago. According to Sky News, Phoenix - which has a market value of over £6.2bn - is drawing up plans to drop the current name of its listed holding company in favour of that of Standard Life, which traces its roots back to the 1820s.
City sources told Sky an announcement was likely about the name change in the coming months, although they insisted that a final decision had yet to be taken.
If it does go ahead, it would see the Standard Life name returning to the London Stock Exchange for the first time since Standard Life Aberdeen made the decision to change its name to abrdn in 2021.
Responding to an enquiry from Sky News, a Phoenix Group spokesman said: "Our brand strategy must support our business strategy and this is kept under review.
"Standard Life is a strong brand with 200 years of history and the brand we are using to grow our business across three markets.
"You may have seen at our recent AGM we changed our articles of association to allow us to rebrand with board approval, rather than shareholder approval.
"This board approval hasn't happened."
He declined to comment on the company's future intentions.
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