Keith Skeoch to step up as David Nish quits as chief executive of Standard Life

Emma Haslett
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The bank was one of a raft which threatened to move south of the border during the Scottish referendum (Source: Getty)

David Nish will step down as chief executive of Standard Life in August after six years in the role, the savings giant said today.

He'll be replaced by Keith Skeoch, currently chief executive of Standard Life Investments.

Sir Gerry Grimstone, Standard Life's chairman, said Nish had "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."

Nish's bonus was the subject of shareholder unrest in February, when some of the group's largest shareholders questioned his bonus plan.

One of Scotland's largest employers, Nish added his voice to a chorus of banks threatening to move south of the border if Scotland voted yes in the independence referendum in September.

Nish added: "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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