Standard Life appoints David Nish as group CEO
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David Nish will take over from Sandy Crombie as group chief executive of Standard Life from January 1, 2010.
Nish joined Standard Life on November 1, 2006 as group finance director and a director of Standard Life.
Prior to joining Standard Life he held senior roles at Scottish Power including finance director and executive director of the infrastructure division. Nish was also a partner at Price Waterhouse.
The FSA has approved the appointment.
Standard Life chairman Gerry Grimstone says: “I am delighted to announce that David Nish will succeed Sir Sandy as group chief executive of our business. David has a proven track record in our business and has played a pivotal role in the delivery of our strategy since he joined the company.
“His unrivalled understanding of our business, his leadership capabilities and strategic vision make him the ideal candidate to lead Standard Life into the next phase of its development.”
Crombie adds: “I will continue to work with David and the executive team to deliver against our strategy in the next few months, ensuring the business is in the best of shape when he assumes his new role in January.
Hargreaves Lansdown pensions analyst Nigel Callaghan says: “The writing was on the wall really, he is a safe pair of hands. He has been in situ for a number of years now so it was the obvious move to make and Standard Life is a conservative company. They want to go with what they know.
“He is tried and tested and has been party to the board since they jettisoned their loss-making ways. He has helped transform Standard Life into a money making machine.”
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