Barclays buys Standard Life

Barclays has bought the home loans and savings division of insurer Standard Life for £226m.

Standard Life

The bank says it will acquire a savings business worth £5.5bn and a mortgage book with outstanding balances of approximately £8.8bn.

It adds that 270 Standard Life employees will transfer to Barclays once the deal is complete.

Frits Seegers, chief executive of Barclays Global Retail and Commercial Banking, says Standard Life “is a good fit” with Barclays existing UK retail banking business.

Standard Life recently named finance director David Nish as its new group chief executive.

His appointment came at the end of 12 months that has seen the insurer make a number of senior marketing appointments and restructure its UK marketing team.

Marketing operations director Simon Esberger joined in October last year, while Andrew Gillespie was named managing director for marketing across the UK financial services business last December.

The appointments came ahead of a restructure that involved the separation of marketing and product development and the creation and abolition of a number of roles.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here