Standard Life Aberdeen has appointed Noel Butwell as chief executive of Standard Life Savings with immediate effect.
The role was previously fulfilled by Barry O’Dwyer, who became Royal London’s new group chief executive last month.
Butwell will be responsible for Standard Life’s platforms, advice and savings businesses, which includes the company’s two main platforms Wrap and Elevate.
As of the end of March 2019, the two platforms had combined assets under administration of £56.7bn with more than 3,500 advisers using the platforms to manage the wealth of their clients.
Butwell has been with Standard Life since October 2003 and has worked in financial services for 30 years.
He will continue as head of UK distribution alongside his new role and will report to Standard Life Aberdeen vice chairman Martin Gilbert.
Butwell says: “I am delighted to have been appointed chief executive of Standard Life Savings. I have worked for SLA for 16 years and throughout this time my primary focus has been building enduring relationships with financial advisers as we work together to meet the needs of their clients.
“Standard Life is at the forefront of helping the UK population achieve their financial goals and through continuing to invest in the business we will build on the excellent propositions, products and services we offer.”
As head of UK distribution Butwell is responsible for “setting, leading and delivering” the UK distribution strategy working with partners and clients in the wholesale and institutional markets.
In his new role Butwell will also oversee the company’s wholly owned financial planning and advice business 1825, which recently acquired Grant Thornton’s wealth advisory unit.
The company said the acquisition will increase 1825’s assets under administration to £5.8bn.