Aviva’s (LON:AV) asset management unit, Aviva Investors, has snapped up a team of former Standard Life Aberdeen (LON:SLA) managers, the company has said. The move comes as Aviva Investors prepares to open an office in Edinburgh.
Aviva’s share price has been little changed in London in today’s session, having inched 0.06 percent higher to 498.90p as of 14:44 BST, as compared with a 0.17-percent gain in the benchmark FTSE 100 index. Standard Life Aberdeen’s share price meanwhile has fallen into the red and is currently 0.63 percent lower at 318.00p.
Aviva hires SLA fund managers
Aviva Investors announced in a statement yesterday that it had boosted its Equities business with nine new hires. Mikhail Zverev will become head of global equities, while Alistair Way will join head of global emerging market equities. Both of them, alongside six more of the new hires, are moving from Standard Life Aberdeen, and will be based in the company’s Edinburgh office, which opens at the end of July.
“We are delighted to attract such high-calibre, experienced individuals with strong performance track records to Aviva Investors, David Cumming as Chief Investment Officer, Equities, commented in the statement.
A Standard Life Aberdeen spokesman told The Times that the company was pleased that its former staff members had found new jobs in Scotland.
“Inevitably when you integrate two investment teams there will be some departures,” he pointed out.
Analysts on Aviva
The 18 analysts offering 12-month price targets for Aviva for the Financial Times have a median target of 582.50p on the shares, with a high estimate of 636.00p and a low estimate of 495.00p. As of July 6, the consensus forecast amongst 20 polled investment analysts covering the blue-chip insurer has it that the company will outperform the market.