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Standard Life’s Sandy Crombie to join RBS board

Standard Life group chief executive Sir Sandy Crombie is joining the board of Royal Bank of Scotland as senior independent director on June 1.

Standard Life revealed in March that Crombie would step down as chief executive once a successor had been found and as the search for his replacement is ongoing, Crombie will continue in his current role at the insurer alongside his new position on the RBS board.

RBS chairman Philip Hampton says: “Sandy has a deep understanding of insurance and financial services, having held a number of senior executive positions during his career at Standard Life, which he led successfully through its stock market flotation in 2006.

“We are also fortunate that he will bring to the role of senior independent director his extensive experience of, and engagement with, institutional shareholders, government and regulators.

“Sandy Crombie’s appointment, which has been made in consultation with our majority shareholder, United Kingdom Financial Investments Limited, is a further major step in the restructuring of our board as we implement our strategic plan to return to standalone financial strength.”

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