IFAs believe the resignation of Iain Lumsden was unavoidable given that Standard Life is now considering demutualisation as an option.
They say he has been so belligerently behind remaining mutual that there is no way he could stay at Standard Life now.
Informed Choice managing director and Sofa chairman Nick Bamford says: “Lumsden's resignation is natural fall out. He has been saying for the last five years that Standard Life will remain mutual.”
Syndaxi Financial Planning director Robert Reid says: “Lumsden has been so belligerently behind mutuality and it would be very difficult for him to lead the company towards demutualisation. He must have been left with very little room for manoeuvre once Standard admitted it was considering the option of demutualisation.”