Phoenix Group, the FTSE-100 pensions provider, is planning to rebrand itself using the historic Standard Life name it acquired four years ago.
Sky News has learned that Phoenix, which has a market value of over £6.2bn, is developing plans to drop the current name of its listed holding company in favor of that of Standard Life, which dates back to the 1820s.
City sources indicated that an announcement regarding the name change is probable in the coming months, although they stressed that a final decision has not yet been made.
If the rebranding proceeds, it would mark the return of the Standard Life name to the London Stock Exchange for the first time since Standard Life Aberdeen changed its name to the often mocked «abrdn» in 2021.
Standard Life is a highly respected brand in the City and operated as a mutual for a significant part of its history.
In response to an inquiry from Sky News, a spokesperson for Phoenix Group stated: «Our brand strategy must align with our business strategy, and this is regularly reviewed.
«Standard Life is a robust brand with a 200-year history, and it is the brand we are utilizing to expand our business in three markets.
«At our recent AGM, we modified our articles of association to allow for rebranding with board approval, rather than shareholder approval.
«However, this board approval has not yet been granted.»
The spokesperson declined to provide details on the company’s future plans.