1825’s Steve Murray says his new strategic role at Standard Life is a “natural extension” of what he was working on at the restricted advice business.
1825 announced today that Murray is taking on a new role as commercial and strategy managing director at Standard Life as well as the newly created position of chairman at its restricted national 1825.
1825 chief operating officer Julie Scott will take over as chief executive and Old Mutual Wealth regional director Michael Wall joins 1825 to focus on business development.
Murray will still have overall responsibility for Standard Life’s advice and planning business, but will not run the operation on a day-to-day basis.
Of his new Standard Life role, Murray tells Money Marketing: “I will be looking more broadly at the commercial decision making within Standard Life and [playing] a more detailed role in broadening the strategy for Standard Life so it is a natural extension of some of the things I have been doing.”
He adds: “I have been running 1825 but I have been playing a part in that through my role on the Standard Life executive committee that oversees everything that we do in pensions and savings.”
Murray joined 1825 in December 2014 from his role as group strategy and corporate finance director at Standard Life.
He says: “We had always been thinking of making sure that we had succession in place for whatever eventuality. I felt the business needed someone from the start that was committed to that business for a period of time and I talked about that being two to three years. From a timing perspective it works well.”
Murray did not rule out that acquisitions would also be a focus in his Standard Life position.
He says: “If there were opportunities from time to time then we would look at those and, given my background, I have been involved in some of those things historically. As chair of 1825 it is being able to utilise some of those skills that I have for 1825 and continue to help with the acquisition pipeline.”