Standard Life today announces the appointment of Sandy Crombie as the Company’s Group Chief Executive, replacing Iain Lumsden with immediate effect. This follows Iain Lumsden’s decision to retire after 36 years of service.
Sandy Crombie has been Chief Executive of Standard Life Investments (SLI) since the Company was formed in 1998 in order to create a leading global investment operation, building on Standard Life’s traditional strengths in asset management. Under his leadership, SLI has seen a three-fold increase in its third party assets under management and an increase in total funds under management from £61.1bn to £86.5bn during a period of mainly falling stock markets.
Sir Brian Stewart, Chairman of Standard Life, said today: “The Board accepted Iain’s 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. “
Source: Standard Life