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Standard Life chief executive Lumsden steps down

Standard Life group chief executive Iain Lumsden is being replaced by Standard Life Investments chief executive Sandy Crombie with mmediate effect.

Lumsden&#39s retirement, after 36 years with the life office, comes as Standard has announced it is reviewing its mutual status.

Chairman Sir Brian Stewart says: “The Board accepted Iain&#39s view that he would not have been able to see the strategic review through to implementation because of his planned retirement date. We are fortunate to have someone of the calibre and reputation of Sandy Crombie to replace Iain and lead the company through the challenging period ahead.”


Sun Bank rebrands as The Mortgage Works

Portman Building Society subsidiary Sun Bank is being rebranded as The Mortgage Works this week. Portman group manager (intermediary marketing) Richard Farr says there will be similarities between the branding of Sun Bank and The Mortgage Works. He says the change has been made through necessity rather than desire. After its acquisition by Portman in […]

Independent view

It has been a good year for our firm, even taking into account red tape and general regulation. Seriously, it has. Most IFAs I speak to say the same, particularly in the last six months. We have kept a close eye on staff costs and overall expenditure and that, coupled with client loyalty and a […]

FSA to launch independent review of Standard Life

The FSA is to commission a review by independent experts into the origins and implications of Standard Life&#39s problems. It says it will also review the impact on policyholders of the measures proposed by the company during its present crisis and monitor “in the interests of policyholders” the decisions made by Standard Life following its […]


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