Standard Life marketer takes on top finance role

Standard Life Assurance Company has promoted marketing chief John Hylands to the role of finance director for the Standard Life group as part of a major restructure of the company.

Hylands, a qualified actuary, will be replaced by Standard Life Assurance Company assistant general manager for marketing Simon Douglas. Douglas will not have any control over Standard Life Bank.

The moves are in preparation for the retirement of Jim Stretton as chief executive of UK operations for Standard Life Assurance Company on December 15. He will be replaced by group finance director Iain Lumsden.

Standard Life Assurance Company provides a range of life and pensions products and has 4 million customers in the UK. It is Europe’s largest mutual life assurance company and manages assets worth over &£75bn.

The company uses Euro RSCG for direct marketing and The Leith for television and press advertising. Media buying is through Feather

Brooksbank.

The group’s other businesses, including Standard Life Investments, will continue to report to group managing director Scott Bell until his retirement on March 12, 2002. Following his retirement they will report to deputy group chief executive Sandy Crombie.