business was announced as "1825" – a reference to the year Standard Life was founded. 2016–2017 In July 2016, a property investment fund managed by Standard Life Investments froze withdrawals after experiencing liquidity issues. In March 2017, Standard Life reached an agreement to merge with Aberdeen Asset Management, in an all-share merger, subject to shareholder approval. It was announced that the merged company was to be named Standard Life Aberdeen. This was achieved by Standard Life being renamed Standard Life Aberdeen on 14 August 2017. 2018 - 2021 In 2018, Phoenix Group Holdings plc acquired Standard Life from Standard Life Aberdeen plc for £2.9 billion. In May 2021, Phoenix Group acquired the 'Standard Life' brand and in July 2021 Aberdeen Standard Life Group companies rebranded as ‘abrdn’. Controversy In January 2006, Standard Life were accused of smearing a policy-holder, Michael Hogan, who was not happy with the way the company was being run. An e-mail sent to Standard Life executives and advisors (which was disclosed under the Data Protection Act) revealed an attempt to discredit him. In January 2007, the head of Standard Life's life and pensions business, Trevor Matthews, used the racist phrase "nigger in the woodpile" while giving a presentation at one of the company's Edinburgh offices. After issuing an apology, Mr Matthews remained in his job and no disciplinary action was taken. In March 2007 the company announced it would cut 1,000 jobs in an attempt to save an additional £100 million per year in costs. One month later it was highlighted in the company's annual report that three of Standard Life's top executives (Sandy Crombie, Keith Skeoch and Trevor Matthews) were awarded more than £5 million in pay. A Standard Life spokesman defended the awards, citing the leadership's efforts in turning round the company's fortunes. In February 2014, Standard Life announced that it may move parts of their operations outside Scotland in the event of Scottish independence, if it was necessary to do so. See also List of managers of Standard Life References External links Financial services companies established in 1825 1825 establishments in Scotland British companies established in 1825 Companies based in Edinburgh Former mutual insurance companies Insurance companies of Scotland Life insurance companies of the United Kingdom Scottish brands 2018 mergers and acquisitions 2021 mergers and acquisitions