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Standard Life former FD receives £1.1m pay-off

Standard Life former finance director Alison Reed has received a £1.1m settlement after she made claims against the company following her departure in October 2006.

Reed made claims against Standard Life over the termination of her employment and an out of court agreement was reached in November 2007.

Standard Life also paid £97,500 towards her legal fees and she also received 113,853 shares as part of a performance related award.

Reed worked at the life office for 18 months during the life office’s demutualisation and was replaced by David Nish in October 2006.

She was replaced by David Nish in November 2006.

The details were announced in Standard Life’s remuneration report which was released today.

The report also revealed that group chief executive Sandy Crombie received a total salary of £1.6m in 2007 while recently departed head of UK retail Trevor Matthews received £1m.

Finance director David Nish received £945,000 and Standard Life Investments chief executive Keith Skeoch received £1.7m.


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Friends Provident has rejected a £3.5bn offer from private equity group JC Flowers. JC Flowers bid last Thursday to buy the FTSE 100 listed company for 150p a share, but the board of Friends Provident says it has declined the bid.The proposed price is well below the 175p JC Flowers was said to be considering […]

New Star hires fund manager trio

New Star has appointed three new fund managers in a bid to boost performance across some of the funds in its range.Ex-Barings UK income specialist Charles Deptford and Allianz RCM fund manager Trevor Green will both join the UK desk to help Toby Thompson and Steven Whittaker on their respective UK vehicles.Meanwhile, BDT fund manager […]

Rock the boat

Leading commentators say the FSA is likely to rebalance its priorities in response to the Northern Rock debacle, with more focus on prudential supervision and less on conduct on business regulation.


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