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Standard in external search for finance director

Standard Life is aiming to boost the plc experience on its board by looking externally for a new finance director to replace John Hylands.

Hylands will move to a new role leading the project to demutualise Standard. Two weeks ago, the appointment of Trevor Matthews as chief executive of life and pension business marked the first external appointment to the Standard board for over 30 years.

The firm wants public company experience on the board in the run-up to the planned flotation after a 2006 demutualisation vote. It has appointed headhunters Heidrick and Struggles. Names in the frame include former BT and Lloyds TSB finance director Philip Hampton and ex-Aviva finance director Mike Biggs.

Standard Life chief executive Sandy Crombie says: “We have begun a search for a new group finance director with the very different skills and experience we will need in that role as a public company. This person will strengthen the team that will take Standard Life into a new era.”

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