- Stephen Bird joins Standard Life Aberdeen as chief executive-designate, effective July 1
- Skeoch will retire from the board of directors of the firm in September, after five years as group CEO and 14 years as a director
- Bird was most recently CEO of global consumer banking at Citigroup
Stephen Bird joins Standard Life Aberdeen as chief executive-designate, effective July 1, replacing Keith Skeoch later in the year.
Following a handover period, and subject to regulatory approvals, Bird, who was most recently CEO of global consumer banking at Citigroup, is expected to replace Skeoch as Group CEO by Sept 30.
Skeoch will retire from the board of directors of the firm in September, after five years as group CEO and 14 years as a director. He will spend the remainder of his contract — until June 2021 — as non-executive chairman of the Aberdeen Standard Investments Research Institute. The ASIRI is the firm's macro research unit.
Bird "is an inspiring leader with a great track record and experience in leading businesses to harness digital technology to improve both productivity and the client and consumer experience," Sir Douglas Flint, chairman, said in the release. "This, coupled with his ability to create valuable partnerships and guide businesses through periods of major change, means that he is well placed to build on the strong foundations we have at SLA."
Stephen Bird said: “I am delighted to be joining Standard Life Aberdeen as its next Chief Executive. This is a company with a great history, a strong brandand an exciting future. The current crisis has highlighted the importance of active asset managementas well as building greater resilience into personal financial planning. SLA’sleading asset management, platforms and wealth capabilities give great scopeto help clients and customers navigate these challenges; thisis what attracted me to the company. I am looking forward to working with my new colleagues tocreate a better future for all our stakeholders."
Standard Life Aberdeen, which has £544.6 billion ($671.6 billion) in assets under management and administration, was formed in 2017 following a merger between Standard Life and Aberdeeen Asset Management. The group is made up of two businesses: The £486.5 billion money manager Aberdeen Standard Investments and Standard Life. Mr. Skeoch was CEO of insurer Standard Life prior to the merger. The group has a strategic partnership with insurance firm Phoenix Group, which acquired Standard Life Assurance in 2018.