Driver appointed Standard Life Wealth managing director

Standard Life has appointed David Driver as managing director for Standard Life Wealth.

Driver has been network director at the company since 2009 will now head the group’s discretionary fund management arm and report to Standard Life Wealth chief executive Richard Charnock.

Charnock was appointed managing director of Standard Life's newly created adviser and investments unit in November 2012 as part of an overhaul of its UK business.

Driver said Standard Life Wealth's £1.6 billion in assets under management was a great platform to build from.

'With the retail distribution review now implemented, we believe there will be an increase in the number of advisers choosing to outsource investments, allowing them to spend more time on other areas of their client’s accounts while also de-risking their business.'

In November 2012 Standard Life cut 139 jobs across its UK and Europe business following its announcement in August that year that it would restructure its UK arm which included the creation of a new customer and marketing unit headed by Stephen Ingledew and the appointment of David Scott as its director of group platform and customer data strategy.