(Bloomberg) -- Standard Life $4.9 billion merger with Aberdeen Asset Management will see 800 jobs cut from the combined group within three years of the tie-up.

Standard Life Aberdeen, as the new company will be known, reiterated that it expects annual cost savings of about $258.6 million by the end of the third year following the merger, according to the deal's prospectus published on Tuesday. Standard Life and Aberdeen had a total of about 9,000 employees as of Dec. 31. The new company will be based in Scotland and have offices across the world.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.