Standard Life closes investment function in Asia

Contrary to the sunny outlook for business growth in Asia given by Standard Life CEO Sandy Crombie in a press briefing in London, the UK insurer is closing down its regional asset management function in Hong Kong. Five executives from its Edinburgh headquarters were spotted on a business-class flight to Hong Kong by AsianInvestor readers and seen checking into Four Seasons the night before executing the deed. At least six staff are said to have been fired just a week after Crombie's …