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Ex-Schroders CFO joins Standard Life

Former Schroders chief financial officer Kevin Parry is the latest big hitter to join the board of Standard Life.

Parry’s appointment is likely to be seen as a further indication of the company’s shift in focus. Group chief executive David Nish wants Standard Life to reposition from a traditional insurer to a “manager of people’s money”. The recent acquisition by Standard Life Investments of Ignis Asset Management was seen as a part of this overall strategy.

Parry will be paid a non-executive fee of £71,400, the same rate as Isabel Hudson who was hired this month, and will join her on the audit committee and the risk and capital committee.

He was CFO at Schroders until May 2013 where he was also chairman of the group risk committee and the group capital committee as well as director of asset management, private bank and hedge fund and Insurance company subsidiaries. He trained as an accountant at KPMG International, rising to managing partner status. After leaving KPMG he became chief executive of Management Consulting Group. His current directorships include the Daily Mail & General Trust.

Hudson, whose career includes 12 years at Royal London and two as head of European Development and operations at Lloyd’s of London, holds no shares in the company. Parry holds 44,397 shares.

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