SCOTTISH fund management, life and pensions giant Standard Life has created a head of Brexit strategy role as part of its planning for the UK’s exit from the European Union.
The Edinburgh group, which has unveiled an £11bn merger with Aberdeen Asset Management, has hired Paul McGhee to fill the position.
It said Mr McGhee, formerly director of strategy at the Association for Financial Markets in Europe (AFME), would be responsible for coordinating Standard Life’s preparations for Brexit.
Standard Life declared: “As you would expect, we are following Brexit developments closely, and remain focused on providing continuity of service to all of our clients and customers. Paul will have a significant role to play in helping us do this.”
The company noted Mr McGhee would report to Graeme McEwan, its chief communications officer.
Standard Life added: “The head of Brexit strategy role was created as part of our planning for exiting from the European Union. In this role, Paul will have senior project management responsibilities, engaging with stakeholders and taking responsibility for coordinating our company-wide preparations for Brexit.”
AFME, which describes itself as “the voice of Europe’s wholesale financial markets”, notes on its website that it represents “the leading global and European banks and other significant capital market players”.
Standard Life chairman Sir Gerry Grimstone told shareholders at the company’s annual meeting in Edinburgh last week that the financial giant would likely pick Dublin for its EU hub. Shareholders of Standard Life and Aberdeen will vote next month on the financial companies’ proposed merger.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here