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Sir Brian Stewart to chair Standard Life

Scottish & Newcastle chairman Sir Brian Stewart is to become the new chairman of mutual life office Standard Life.

Stewart, 55, will replace the current chairman John Trott who is expected to announce his retirement at Standard&#39s annual meeting next April.

Known as a strong defender of mutuality, Stewart is expected to resist any further attempts to demutualise the company and will promote its presence in overseas markets.

The news follows on from the announcement of the promotion of finance director Iain Lumsden to chief executive, replacing the outgoing Scott Bell, who is also retiring.


Sun Bank profits up 39 per cent

Sun Bank pre-tax profits jumped 39 per cent to £6.2m from £4.46m for the first six months of the year. Assets under management rose 16 per cent to £1.3bn from £1.1bn and lending increased 14 per cent to £156.8m from £137.5m. Customer deposit accounts increased 13 per cent to £1.1bn from £974m. The bank has […]

DTI approves Misys – DBS deal

The DTI has announced that is not to refer Misys&#39s proposed acquisition of DBS to the Competition Commission.The £75m deal had raised issues of competition as Misys will now have almost 30 per cent of all IFAs under its umbrella.

Clerical Medical not taking the multi-tie route

Regarding the article in last week&#39s Money Marketing headlined, Clerical joins the race to buy IFAs, Clerical would like to clear up any misunderstandings that IFAs may have on its stance on polarisation. Clerical Medical is a firm supporter of IFAs and polarisation and believes that multi-ties represent the worst possible scenario as a distribution […]

West Brom appoints deputy chairman

West Bromwich Building Society is appointing Norman Cooper as deputy chairman.Cooper has been a non-executive director at West Bromwich since 1998, and was formerly with Royal Insurance, where he was director and general manager prior to its merger with Sun Alliance in 1996.West Bromwich chairman Roger Dickens says: “Norman has made a considerable impact during […]


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