Savings and investment company Standard Life (SL.L) has named Paul Matthews as chief executive of its UK business taking over from group chief executive David Nish.

Nish has acted as UK chief executive since January 2010, when he replaced former group chief executive Sandy Crombie.

According to Standard Life, the appointment of Matthews as UK chief executive will allow Nish to focus on group strategy.

Matthews will take on responsibilities for its UK operations, customer services, UK IT and change.

The new UK chief executive joined the company in 1989 and was most recently UK 'Take to Market' director, which included responsibility for the retail, corporate and direct-to-consumer business.

Matthews said the company was well-positioned for many of the regulatory and changes taking place in the industry.

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