Standard Life's chief executive, Sir Sandy Crombie, is to step down during 2009 and the firm has begun seeking a successor.
Crombie will remain as chief executive until Standard Life's board has appointed a replacement and completed a handover process.
Launching Standard Life Investments Ltd in 1998, Crombie became a director at The Standard Life Assurance Company in 2000 before taking up the role of group chief executive in 2006. He has worked at Standard Life for 42 years.
He was knighted in the 2009 New Year Honours List for services to the insurance industry.
Gerry Grimstone, Standard Life chairman, says: "There is no fixed timetable and we do not envisage making any further statements about this matter until a successor is confirmed and a timetable for transition is set."
Contact: John Bakie, Tel: 020 7484 9805, e-mail: [email protected]IFAonline
£116.8m of benefits received by customers
Spent 13 years at JPMAM
Headed by Ben Palmer and Edward Park
Consults on regulation and innovation in green finance
13 studies begun since April 2013