Standard Life names Crombie successor

Standard Life has named group finance director David Nish as successor to group chief executive Sir Sandy Crombie from 1 January 2010.

Nish joined Standard Life in November 2006 and is also a director of the insurer. Prior to joining Standard Life, Nisj held senior roles at Scottish Power and was a partner at Price Waterhouse. His basic salary will be £700,000 per annum, with short-term and long-term bonuses. Standard Life says the appointment follows an extensive worldwide search by chairman Gerry Grimstone. The FSA has approved this appointment. Sir Crombie will remain with the business until end April next year to ensure a smooth transition. "Since he joined us in 2006, David has made an outstanding contrib...