Scottish firm which eyed the exit door weighs up devolution impact
One of Scotland's major financial services companies, which had eyes on the exit door if voters opted for independence, is weighing up the implications of further devolution this morning.
Standard Life had revealed its contingency plans to move out if Scotland broke away.
With the result being a clear no vote, however, the Scottish Parliament is set to get greater powers, as pledged by the Better Together campaign and the three main Westminster party leaders.
In a statement, Standard Life said: "We fully respect the decision of the Scottish people. We recognise that further constitutional change is very likely following the clear result of the referendum.
"We will consider the implications of any changes for our customers and other stakeholders in our business to ensure their interests are represented and protected. As a large company based in Scotland, Standard Life is ready to contribute to this process.
"It is now important that we all move forward with respect and work together constructively in the best interests of Scotland and the United Kingdom.
"Standard Life is a successful global company – we are proud of our Scottish heritage and will continue to build our success from these roots."
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The uncertainty caused by the opinion polls in the last stages of the campaign, which suggested a yes vote was becoming increasingly likely hit the value of the pound. But Sterling has rallied since the result became clear this morning.
Mark Dampier, head of investment research, at Hargreaves Lansdown, said: "From an investor's perspective, it is a relief to resolve this uncertainty and the markets look to react accordingly.
"Investors can continue to manage their savings, investments and pensions just as they did before the referendum.
"The UK remains one of the most stable countries in the world in which to invest and conduct business.
"As a rule, investors should not make knee jerk reactions to these sorts of matters. Companies have a tendency to survive whatever politicians and economics throw at them, just look at Europe as an example. Big falls and rises are often come close together and investors on the sidelines risk missing out.
"It remains business as usual - it's highly unlikely there will be any real devolution work done until after the general election."
The Tax Incentivised Savings Association said in a statement: "The Scottish people have chosen to stay in the United Kingdom which means that the millions of people with ISAs and pensions and other savings with financial services companies both sides of the border now no longer need to be concerned about the security of their investments.
"The industry and consumer groups which have formed The Savings & Investments Policy project under the auspices of TISA can now continue to work together with regulators and political parties to deliver an effective long-term savings and investment policy which will meet people's needs and aspirations for the future."