Standard Life's chief executive is stepping down after six years in the role, the company has reported.
David Nish, who has also been a director for nine years, will leave the job in August.

Keith Skeoch, currently chief executive of Standard Life Investments, will succeed him.

Mr Nish said: "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.

“Now is the right time for both the group and myself. It has been an absolute privilege to lead Standard Life for the last six years and to help build our business into the strong global player it is today.

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"I'd like to take this opportunity to thank every single person who has helped to make Standard Life the company it is today. The business is full of inspirational people who work hard every day to do the best that they can for our customers and clients. Our people are truly the best.

"For me it will be a time of mixed emotions as I prepare for a new future, however I know that Standard Life is in good hands. Keith is the right person to continue to deliver on our strategy and I wish him every success for the future."

Chairman Sir Gerry Grimstone said: "David has shown great leadership over the last six years and the outstanding progress we have made in that time has been achieved through his incredible drive and determination.

“He has changed the shape of Standard Life allowing us to successfully grow globally through world class investment management and distribution businesses.

“He leaves the business in extremely good shape with a clear and successful strategy, strong operational performance and a depth of leadership talent.”

He said: "Under Keith's leadership the asset management part of our group has developed into a leading global player. 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 Skeoch said: "I am delighted to have the opportunity to lead Standard Life. Standard Life has been both transformed and simplified in recent years.

“It's a great honour to have the responsibility for the next phase of our growth and I'm excited by the challenge.

"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."