Standard Life finance director steps down

Standard Life Finance Director Alison Reed will step down next month, the insurer said today.

Standard Life Finance Director Alison Reed will step down next month, the insurer said today.

Standard Life - which listed on the stock market in July, ending eight decades of mutual ownership - had been expected to shake up its senior executive team in the medium term.

Ms Reed was only appointed last year after a 12-month search by the Edinburgh-based life insurer. Joining from retailer Marks & Spencer, she replaced John Hylands, who moved on to lead the project to demutualise Standard Life.

Chairman Brian Stewart said in June he would stand down once it was established as a listed company, while Chief Executive Sandy Crombie (58) has said he plans to retire at 60.