David Nish will take over from Sandy Crombie as group chief executive of Standard Life from January 2010.
Nish joined Standard Life in November 2006 as group finance director. He previously held senior roles at Scottish Power, including finance director and executive director of the infrastructure division. He was also a partner at Price Waterhouse.
At the start of the year, Standard said it would start the search for Crombie’s successor. Crombie took up a position on the board of Royal Bank of Scotland as senior independent director on June 1 while continuing in his role at Standard. The 60-year-old was knighted in the new year honours list for “services to the insurance industry in Scotland”. He has been with Standard for 42 years, becoming chief executive in 2004.
Chairman Gerry Grimstone says: “Nish 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 his strategic vision make him the ideal candidate.”