Complex sentence: The company was formed in 2002 as merger of Liberty Asset Management (LIBAM) and Standard Corporate and Merchant Bank Asset Management which at the time were subsidiaries of Liberty Holdings and Standard Bank respectively.
Split into simpler sentences: The company was formed in 2002 when Liberty Asset Management (LIBAM) and Standard Corporate and Merchant Bank Asset Management merged. Both of these companies at the time were subsidiaries of Liberty Holdings and Standard Bank respectively.