We met with Steen Foldberg, Managing Director of the recently created Aberdeen Standard Investments, to discuss the merger between the two companies, and his upcoming challenges developing the Luxembourg office.

Can you tell us more about the newly created "Aberdeen Standard Investments"?

Aberdeen Standard Investments is the result of the merger between Aberdeen Asset Management plc and Standard Life plc that was formed in August 2017. With the merger, the group became the second largest Asset Manager in Europe and one of the largest players worldwide. 

Our combined expertise and 49 offices around the world, allow us to offer a full range of investment solutions across all asset classes and distributed on a global scale.

Our purpose is to invest for a better future. We do it to make a difference – to the lives of our clients and customers, our people and our shareholders. To achieve our purpose, our people and solutions are well positioned and we focus on being a world-class investment company.

With the pressure on margin and the crowed space for asset manager, size has become increasingly important and we now have more than 1000 investment professionals, but our most important asset is our large and diversified client base.

From a Luxembourg perspective, the legacy Aberdeen company was established in 1988 and with the merger we will become one of the largest players in the fund industry here. Besides functioning as a hub for the group we also serve many local partners and investors who invest in our investment solutions.


How has Brexit influenced Aberdeen's decision to further develop its activities here in Luxembourg?

Brexit was not the main driver for further development of our activities. The merger is the real game changer as the group decided to expand on the existing expertise and set up in Luxembourg. Of course Luxembourg is also a great location to deal with the impact of Brexit. That said, Brexit is like the weather, everyone talks about it, but no one really knows how it will finally look like. However, I am confident that common sense will prevail and that we will get a good working arrangement with the UK. For Luxembourg and Europe, a too hard Brexit in our industry, will have profound negative impact for the capital market, investors and pension savers.


On a more personal side, you recently joined Aberdeen, what is your personal roadmap and ambitions for the years to come?

I have been very fortunate to be able to join Aberdeen Standard Investments at a very exciting moment. While I can leverage my experience as a leader in banking and ICT, my main objective of my career change was to challenge myself and to continue to learn new things. This has certainly been a tick in the box.

Delivering the merger, dealing with Brexit, and gearing up the Luxembourg office to deal with the increase in business is a huge challenge.  I personally get very motivated by being part of a transformational process and it’s exciting to be part of our diversified dynamic team.

I’m not a big believer in career roadmaps.  The world is changing too fast and if you are having fun, learn and can contribute, that gives me huge satisfaction.   

Publié le 20 juillet 2018