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Lumsden to take over at Standard

Standard Life chief executive designate Iain Lumsden will take the reins of the mutual from December 15 following the retirement of current chief executive Jim Stretton.

Group managing director and mutuality stalwart Scott Bell will not step down until March 2002 after more than 40 years at the life office, after which Lumsden will take over responsibility for the whole group.

Standard Life Investments chief executive Sandy Crombie will become deputy group chief executive. His replacement for the investment business has yet to be announced.

General manager (marketing) John Hylands is to become group finance director and assistant general manager (marketing) Simon Douglas will be come managing director (marketing). Current group finance director and appointed actuary Lumsden was named as Bell&#39s successor in July.

Lumsden says: “These chan-ges represent the next step of management restructuring following the announcement in July of the retirement of Scott Bell and Jim Stretton.”

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