Standard Life Wealth, an investment specialist that caters to private clients, has announced a quintet of appointments, bringing new appointments this year to 15. Alastair Garvie and Gregg Henderson join as senior client portfolio managers, with John Payne becoming a client portfolio manager. Eileen Morrison and Clare Messham are appointed to the posts of client [...]
Standard Life has announced up to 500 job losses over the next 15 months, as the group continues its cost reduction programme. The life and pensions provider may be cutting as many as 600 jobs, mostly at its Edinburgh base, while at the same time creating up to 100 new posts. It is understood that [...]
In a trading update covering the three months to the end of March, Standard Life has reported a three-fold year-on-year increase in net inflows, to £2.1 billion. Worldwide long-term savings sales increased 30% to £4.6 billion with sales at the group’s UK retail long-term savings business up 23%, to £1.8 billion, when compared to a [...]
Standard Life plc has announced the appointment of Jackie Hunt to the roles of chief financial officer and executive director with effect from 14 May. Hunt joined the firm in January 2009 as deputy group finance director, having previously worked for Aviva (then Norwich Union) as chief financial officer. She has also worked for Royal [...]
Standard Life has published new business results for 2009 unveiling “an impressive performance in a year of challenging markets”. In the three months to the end of December, life and pensions net inflows were over three times higher than a year earlier at £1.3 billion (Q4 2008: £0.4 billion). Furthermore, life and pensions sales of [...]
Standard Life has frozen bonus rates for over a million unitised and conventional with-profits policyholders. The life and pensions provider says most customers will still see an increase in their plan values but for the less fortunate, a £200 a month with-profits pension plan taken out in 1990 by a male retiring aged 65 now [...]
Standard Life has today announced its new executive structure and a pair of new senior appointments. Christian Torkington will become group information and operations director, effective from 1 March of this year. Torkington, who has joined Standard Life from RSA Insurance Group, will be responsible for formulating and enacting technology strategy. Sandy Begbie is to [...]
Householders are being warned to keep their homes warm during the current freezing weather or risk having their property flooded by burst water pipes. Research by Virgin Money found burst water pipes and “escape of water” accounted for 15% of claims between December 2008 and November 2009. The average amount paid out for these claims [...]
Standard Life is believed to have asked advisers to review its Canadian business with a view to a sale, The Independent has reported. Such a move would have come only days after the Edinburgh-based insurer announced that David Nish is to succeed Sir Sandy Crombie as group chief executive officer, effective from 1st January. The [...]
Standard Life has announced that David Nish is to succeed Sir Sandy Crombie as group chief executive officer, effective from 1 January 2010. Nish joined the firm three years ago as group finance director, prior to which he had worked for Scottish Power in a number of senior roles including finance director. Earlier in his [...]
Moneyfacts has announced the winners of its 2009 Investment Life and Pensions awards. AEGON Scottish Equitable was acknowledged as Best Pension Service provider, with Standard Life and Scottish life gaining the category’s highly commended and commended statuses respectively. Lloyds Banking Group’s Scottish Widows was named Best Personal Pension Provider and AJ Bell Best SIPP Provider. [...]
Standard Life is among a handful of companies to have received the Pension Quality Mark (PQM) of the National Association of Pension Funds (NAPF). The initiative, launched today, is the first quality mark for defined contribution pensions and aims to give workers a better insight into their employees’ schemes. The award is only given where [...]
Having studied Government data, Standard Life has come up with a realistic retirement age for Britons with no retirement savings. The insurer estimates that those who have neglected their financial planning will need to remain at work until between 74 and 86-years-of-age, taking into account the Government’s decision to increase the state pension age to [...]
Standard Life saw profit slump 35% in the first half of 2009, as pension sales weakened and asset values fell. Pre-tax operating profit came in at £348 million for the period, down from £534 million a year earlier. Net inflows from the group’s worldwide life and pensions operations stood at £662 million, compared with £1,842 [...]
Standard Life has reported a 20% fall in sales during the first quarter of 2009. Worldwide life and pensions sales declined to £3.6 billion, down from £4.5 billion in the same period in 2008, while in the UK new business sales fell 27% to £2.5 billion. However, the company said its first-quarter figures were better [...]
Aviva shares tumbled 7.5% to 253.5p after HSBC analyst Kailesh Mistry warned that dividends could be slashed in half this year. Concerns that tax changes to pensions in today’s Budget announcement also helped to fuel the shareholder exodus from Britain’s largest insurer. Reports in the Times newspaper suggested that the 20.5p drop in share price [...]
Standard Life has confirmed that it is restoring the value of its Pension Sterling Fund (PSF) with a £100 million injection of cash. The move will return customers to the positions they held before a recent valuation adjustment. Last month Standard Life reported that the £2.4 billion PSF had lost just under 5% of its [...]
