Standard Life launches advisory unit ahead of RDR
Standard Life is set to launch a new business unit that will focus on the intermediated market and will offer ‘wealth and investment solutions’ with immediate effect, as the business undergoes a major overhaul in preparation for the Retail Distribution Review.
According to an announcement from the firm today (28 August), the new retail adviser, proposition, wealth and investment solutions businesses will be headed by Richard Charnock.
Other changes will see the corporate pensions unit fall under Standard Life’s workplace business under Ronnie Taylor, who will also remain accountable for Standard Life’s implementation of the RDR.
The marketing, retail customer relationship and private client management functions will transfer into a new business unit, customer and marketing, under Stephen Ingledew.
Having delivered the implementation of the brand across the Standard Life group, Bruce Kelsall, UK marketing director, will be leaving the business in October.
A Standard Life spokesperson said: “Today’s changes allow us to take further advantage of the significant progress we’ve made transforming the operational and financial performance of Standard Life.”
This follows June’s announcement of Nathan Parnaby as chief executive of Asia and emerging markets, Paul Matthew’s appointment as chief executive of UK and Europe and Sandy Begbie’s appointment as group operations officer.
Since being appointed, the trio have been reviewing each business’ organisational structure and framework to ensure we achieve our objective of driving further value in each of these markets.