Former HSBC boss to become chairman of Standard Life Aberdeen

Former HSBC boss to become chairman of Standard Life Aberdeen

Standard Life Aberdeen has appointed former HSBC boss Sir Douglas Flint as its new chairman.

Sir Douglas stepped down as chairman of HSBC last year and will replace Gerry Grimstone as chairman on 1 January 2019.

Commenting on the appointment, Simon Troughton and Melanie Gee, co-chairmen of the appointments committee, said: "We undertook a rigorous and comprehensive international search to identify Sir Gerry's successor and we are very pleased that Sir Douglas will join the board and become its chairman.

"His passion for our company, his strong track record as chairman and his international experience make him an ideal candidate to lead the board as we continue to build our global investment business."

Standard Life Aberdeen shares have performed poorly in 2018, having fallen from £4.86 on 2 January 2018 to £2.65.  

The joint chief executives of the business are Martin Gilbert, former chief executive of Aberdeen, and Keith Skeoch, former chief executive of Standard Life.

Sir Douglas said: "I'm delighted to have been asked to lead the board of Standard Life Aberdeen at this important time in its development. I look forward to working with my fellow directors and the management team over the coming months and years to continue to shape its future success."