Phoenix Group Holdings PLC is considering changing its name to Standard Life within the next 12 months, the Financial Times reported on Thursday, citing a person familiar with the situation.

Phoenix, a London-based retirement savings provider, bought the Standard Life brand from what is now Aberdeen Group PLC - and which previously had been called Standard Life Aberdeen - back in 2021. The brand traces its history back to 1825 in Edinburgh.

In a statement, the FT reported, Phoenix said the proposed name change had not yet been approved by its board.

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