Skeoch emerges from the wings

Since David Nish took over five years ago, Standard Life has almost doubled its market value and almost trebled shareholders' money, whilst subtly shifting its focus from collecting insurance premiums to growing global assets.

Last autumn Mr Nish had just pulled off his crowning deal, the strongly-priced sale of the historic Canadian business, which despite shrinking the group by a fifth failed to knock its market value.

So the tap on the shoulder for the chief executive soon afterwards, from that most urbane of chairmen Sir Gerry Grimstone, may have seemed a little harsh.

But Standard's biggest ever disposal, alongside its biggest ever acquisition in Ignis Asset Management, only served to illuminate the increasingly pivotal role of Mr Nish's colleague Keith Skeoch.

SLI's annual report last August represented quite a CV for Sir Gerry to ponder.

It reported that since 2004 when Mr Skeoch took over SLI had climbed from thirty-ninth to fifth largest UK retail fund manager, assets managed for third parties had zoomed from £16bn to £108bn, and profits had climbed from £6m to £104m.

More than half of inflows now come from overseas, helping to embellish Mr Skeoch's credentials as international man, who can develop the group's five overseas partnerships.

But Mr Nish has achieved much in keeping Standard ahead of the game in the turbulent UK savings market, so shareholders will hope that Mr Skeoch's supporting cast will be able to maintain that momentum.