Phoenix Group plots rebranding under historic Standard Life name
Phoenix Group, the FTSE-100 pensions provider, is plotting to rebrand itself using the historic Standard Life name it acquired four years ago.
Sky News has learnt that 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 said 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 ill-advised decision to change its name to the frequently derided abrdn in 2021.
Standard Life is one of the City's most venerable brands, and was structured as a mutual for much of its existence.
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."
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