– UK – Standard Life plc today announces that Luke Savage has been appointed Chief Financial Officer and an executive director of the Company with effect from 18 August 2014. He is a leading industry executive with extensive experience of insurance and investment services. The appointment follows a global search.
Since 2004, Luke Savage has been Director of Finance and Operations at Lloyd’s of London (‘Lloyd’s’), the specialist insurance market operating in over 200 countries and territories with premium income of c. £25bn per annum. He was responsible for the programme to implement Solvency 2 across the Lloyd’s market, and delivery of significant change to the operations of the business and the market.
Prior to his time at Lloyd’s, Luke spent four years at Deutsche Bank as Global CFO for the equities business and ten years with Morgan Stanley in various financial controller roles.
David Nish, Chief Executive, Standard Life, said: “Luke has exceptional insurance and investment markets experience and I am delighted to welcome him to Standard Life. “He is joining the Group at a time of significant opportunity with unprecedented change across the markets in which we operate. We are trading strongly and have significant opportunities to grow further, including the acquisition of Ignis. Luke’s proven track record as a highly commercial Chief Financial Officer will support the delivery of our strategy. “He will be a great addition to our team and I very much look forward to working with him.”
Luke Savage commented: “Standard Life has been able to combine its unique heritage with a truly customer focused and forward thinking strategy and has achieved a great deal over the past few years. The company has created great opportunities for future growth and I’m excited to be joining at this time.”
Following this appointment, the Company’s Board will comprise the Chairman, three executive directors and seven non-executive directors. The Financial Conduct Authority and the Prudential Regulation Authority have approved this appointment.
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