Standard Life Investments chairman steps down

Standard Life Investments chairman Colin Buchan is to step down from 2012 and will be replaced by non-executive director John Paynter.

Buchan was appointed chairman in 2008 and has been a director of Standard Life Investments since 2002; he will remain as a director and continue to chair the investment committee.

Paynter has been a non-executive director since 2010 and is also a non-executive director at Jardine Lloyd Thompson and Standard Chartered.

He has previously held senior positions at JP Morgan Cazenove.

Standard Life chairman Gerry Grimstone says of Paynter’s appointment: “His broad experience of financial services and other high-performing boards will be of great benefit to us.”