Asset management firm Standard Life has appointed a new chief executive following a planned succession process.
Current Standard Life Investments chief executive, Keith Skeoch, will replace David Nish as chief executive of Standard Life.
Standard Life chairman Sir Gerry Grimstone said: “I am very pleased that Keith Skeoch is to become our new chief executive.
“He has an exceptional understanding of world markets and the opportunities they offer, and has the right talent and experience to continue to deliver our strategy and take Standard Life on the next stage of our journey,” Mr Grimstone said.
Mr Nish said that “now is the right time” for him to be replaced.
“One of the most important responsibilities of a chief executive is recognising both the right time to pass the baton and also to help ensure it is passed on to the right person,” Mr Nish said.
Commenting on his appointment, Mr Skeoch said he is “delighted” to takeover the leadership of Standard Life.
“It’s a great honour to have the responsibility for the next phase of our growth and I’m excited by the challenge,” Mr Skeoch said.
“I’d like to thank everyone across the business who has worked so hard to make this possible and David for handing the company over in such strong shape."
Mr Skeoch will commence in the role on 5 August 2015.