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Standard Life announces group restructure

Standard Life new logo

Standard Life has announced a restructure of its UK and Europe business as part of a wider group overhaul including the Asia, emerging markets and group operations divisions.

In the UK the restructure will see the creation of an advisers and investments business unit made up of Standard’s existing retail adviser, proposition, wealth and investment solutions businesses, reporting into Richard Charnock.

The UK corporate business will become the workplace division under Ronnie Taylor. Taylor will also remain responsible for Standard’s RDR implementation.

A customer and marketing division will be made up of the existing marketing, retail customer relationship and private client management businesses and will be led by Stephen Ingledew.

UK marketing director Bruce Kelsall will leave Standard in October.

Standard’s German business will continue to be led by Sven Enger, who will report to UK and Europe chief executive Paul Matthews.

The Irish business will be restructured so that the Irish domestic business will be responsible for the manufacture of Standard’s offshore products, supported by the customer and marketing and advisers and investment businesses in the UK. The domestic business will report to Richard Charnock.

Nathan Parnaby will continue to manage Standard Life International, the legal entity that forms Standard’s UK offshore business.

Alan Armitage will continue to be responsible for developing the Hong Kong-based Asia and emerging markets retail investment business, while Mike Connarty will continue as director of international investments, responsible for Standard’s Indian and Chinese joint ventures.

In group operations, Paul Chong will continue as director of Group IT, Mark Dixon becomes group chief technology officer, and David Scott becomes director of group platform and customer data strategy.

Marek Wilkojc will remain head of Group Reward and Employment Policy until his retirement in early 2013. Ian Miller becomes head of group talent and organisational development.

Jacqui Mallin will continue to lead the operation excellence division, while Graeme Mcewan becomes director of group communications and brand.

A Standard spokesman says: “Today’s changes allow us to take further advantage of the significant progress we have made transforming the operational and financial performance of Standard Life.”

Standard announced a shake-up of its senior management in June which saw UK business chief executive Paul Matthews appointed as chief executive of the firm’s European business alongside his current role. Standard Life International chief executive Nathan Parnaby was appointed as chief executive of Standard Life Asia and emerging markets, while group operations and people director Sandy Begbie was appointed as group operations officer.

The company announced in November plans to cut 95 jobs from its UK customer service department as part of the company’s stated aim to reduce costs by £100m by 2012. The job losses came on top of plans set out in September 2010 to cut up to 500 jobs over 15 months.


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. Here we go. As if the state of this and other firms customer service proposition wasn’t poor enough, besides hanging on to the phone for ages, there will now be fewer people to answer it anyway.

    Only to be expected with the RDR imposed commission ban likely to reduce the business volumes from the IFA sector over the next few years post 2012.

  2. There was the article the other day about Standard Life shutting down that IFAs agencies and holding on to the clients. Now it appears they’ve created a new direct sales force…

    It’s a scary time to be an IFA and dealing with Standard Life.

  3. could see this coming a mile off. Pull out of the commission market, push RDR, launch platform , get advisers to sign up to it on the basis it isn’t a product and then relaunch own sales force

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