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Standard&#39s Hylands moves sideways

Standard Life group finance director John Hylands has been shifted sideways taking the reigns of the insurer&#39s demutualisation project.

Hylands is to continue as an executive director and will maintain his responsibilities as finance director until a permanent replacement is found.

Standard has also announced its team of advisers to help the company through the demutualisation process. Merrill Lynch and UBS are to act as financial advisers, Watson Wyatt will provide actuarial advice, PricewaterhouseCoopers will act as reporting accounts while City law firm Slaughter & May and Scotland-based Dundas & Wilson will give legal advice.

Standard chief executive Sandy Crombie says: “We are fortunate to have someone of John Hylands&#39 capabilities and experience to lead this very important demutualisation project. We have now begun a search for a new group finance director with the very different skills and experience we will need in that role as a public company. This person will strengthen further the team which will lead Standard into a new era.”


West Bromwich Building Society – Introducer Exclusive Remortgage: 1.7% Discount for Two Years

Type: Discounted-rate remortgage product Discounted term: Two years Discount: 1.7% Payable rate: 4.6% Minimum loan: £25,001 Maximum loan: Up to 75% of valuation subject to a maximum of £500,000 Income multiples: Up to 3.75 times principal income plus second or three times joint Conditions: Free legal fees, free valuation subject to £350 maximum, free Mig […]

Wagstaff steps down as M&G restructures

Phil Wagstaff is stepping down from his role as M&G managing director (UK retail) as part of a wider restructure of the firm&#39s sales and marketing operation. Wagstaff is understood to be taking a break after seven years at M&G and 20 years in the industry. Under the restructure, John Goddard will now head both […]

Review could mean costs being passed on to IFAs

A review of the way that IFA networks pay VAT could see network services separated for VAT and extra charges passed on to advisers. Tax experts believe some areas of marketing and promotional services, commission services and IT and compliance services could be viewed as ancillary and separate to the client adviser relationship and therefore […]

A consumer&#39s view

Transparency is the current buzzword in the industry but however much the regulators and the Government talk about it, there seems to be precious little of it around. The new consumer credit regulations, designed to protect borrowers from unscrupulous lenders, is a typical example of the Government pussyfooting around. The high-street banks, which are the […]


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