Standard Life moves wealth division into investments

Standard Life Wealth is to move within the Standard Life group to its global fund manager Standard Life Investments with effect from 1 January 2014.

Richard Charnock, chief executive officer of Standard Life Wealth, who will report to Keith Skeoch, chief executive officer of Standard Life Investments, will be appointed to Standard Life Investments’ board on 1 January 2014, subject to FCA approval.

Skeoch said: “Following the recent acquisition of Newton Private Clients, Standard Life Wealth has become a substantial asset management business, which has created a deeper operational and investment link between our two organisations.

“It now makes sense to align our two businesses more closely.

“We believe this is a very positive move for both organisations and will give Standard Life Wealth greater access to our global investment platform, investment performance and investment solutions.

”Over the next few months we will be working together closely to make sure the move goes smoothly for our businesses, our people and our [employer] clients.”