Standard Life Aberdeen confirms new board

Pensions and savings chief executive Barry O’Dwyer is among a number of resignations from board responsibilities.

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Standard Life Aberdeen has confirmed the make up of its new board including several resignations.

Standard Life Aberdeen announced the completion of their merger this morning. It creates a combined business running £670bn in assets.

As previously announced, pensions and savings chief executive Barry O’Dwyer, chief finance officer Luke Savage and global client director Colin Clark have stepped down from the Standard Life Board.

O’Dwyer will remain in his role as pensions and savings chief executive. Savage will leave the company on 28 February 2018 and Clark will leave on 31 December 2017.

Non-executive director Val Rahmani, deputy chief executive Andrew Laing, Asia managing director and group head of investments Hugh Young, and group head of risk Rod McRae have also resigned from the Aberdeen Asset Management board.

Laing is to take on the role of joint head of integration and Young will stay as Asia head.

As announced in the merger prospectus documents published in May, the company today confirmed that Gerry Grimstone remains as chairman, Kevin Parry, John Devine, Melanie Gee, Lynne Peacock and Martin Pike remain as non-executive directors, and Keith Skeoch, co-chief executive, remains as an executive director of Standard Life Aberdeen.

Simon Troughton is deputy chairman, and Julie Chakraverty, Gerhard Fusenig, Richard Mully, Jutta af Rosenborg and Akira Suzuki have been appointed as non-executive directors. Co-chief executive Martin Gilbert, chief investment officer Rod Paris, and chief financial officer Bill Rattray have been appointed as executive directors.

Following the changes, the board is made up of the chairman and the deputy chairman, four executive directors and 10 non-executive directors. The board is made up of four women and 12 men.

Grimstone says: “I would like to thank all board colleagues stepping down from both boards for their commitment and service and particularly over recent months as we have worked to complete the merger.”