A Customary Life emblem sits on a wall outdoors Customary Life Home, the headquarters of Customary Life Plc, in Edinburgh, U.Ok., on Saturday, Aug. 9, 2014.
Simon Dawson | Bloomberg | Getty Pictures
British asset supervisor Standard Life Aberdeen stated on Tuesday that Keith Skeoch would step down as chief govt and get replaced by former Citi govt Stephen Chicken after 5 years on the helm.
The announcement marks the top of a 14-year profession as director for Skeoch, throughout which he oversaw the merger of Customary Life and Aberdeen Asset Administration and sale of the corporate’s life insurance coverage enterprise to Phoenix Group.
“With integration properly progressed and having constructed vital steadiness sheet energy, this appointment launches the subsequent part of evolution aimed toward creating and increasing the income alternatives out there to SLA,” it stated in a press release.
Chicken will be part of the board as chief executive-designate on July 1 and Skeoch will serve out the rest of his contract as non-executive chairman of Aberdeen Customary Investments Analysis Institute.
Customary Life stated it expects the transition to happen by the top of the third quarter, topic to receiving regulatory approval.
Chicken most lately served as CEO of Citigroup’s International Client Banking unit from 2015 to November 2019.
Previous to that he was CEO for Citigroup’s Asia Pacific enterprise, together with India and China.
“He’s an inspiring chief with a fantastic monitor report and expertise in main companies to harness digital expertise to enhance each productiveness and the shopper and buyer expertise,” stated SLA Chairman Douglas Flint.