 Standard Life hopes to scrap its once-cherished mutual status |
Members of Edinburgh-based Standard Life are due to vote on whether to demutualise and float on the stock market. The company has a long historical connection with the Scottish capital. Standard Life was founded in Edinburgh on 23 March, 1825. The company became a mutual in 1925. Europe's biggest insurer is based on Lothian Road in the heart of Edinburgh. It employs about 7,000 members of staff in the Scottish capital alone and a further 12,000 worldwide. Standard Life has in excess of seven million customers worldwide, with five million in the UK. It is responsible for managing assets of �108bn on behalf of those customers. It also contributes �1bn per annum, 8.9% of GDP, to Edinburgh's economy.
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