LONDON, March 6 The 11 billion pound ($13.5
billion) merger between Standard Life and Aberdeen Asset
Management will lead to some job losses but not the
1,000 figure that has been cited in media reports, the Aberdeen
CEO said on Monday.
The two firms set out the terms of their proposed deal on
Monday, saying they expected to be able to save up to 200
million pounds in costs.
"There will be some job losses where there is overlap,"
Martin Gilbert told BBC Radio. Asked if the number could be as
high as 1,000, he said: "I don't know where that figure has come
from, that is way, way exaggerated."
"This is not about saving money, this is about complementary
businesses hoping to grow their revenues."
($1 = 0.8148 pounds)
(Reporting by Kate Holton; editing by Guy Faulconbridge)