Standard Life appoints new CEO in Canada

EDINBURGH, Scotland and MONTREAL, Canada, Dec. 19, 2011 – Standard Life has appointed Charles Guay to the role of President and Chief Executive Officer of Standard Life Canada, following an extensive search. He joins Standard Life from National Bank of Canada where he is currently Senior Vice President, Strategies, Marketing and Investment Solutions, Wealth Management; and President and Chief Executive Officer, National Bank Securities. Standard Life plc Chief Executive, David Nish, described Charles as “an outstanding candidate for the position.” Mr Guay will be based at the Group’s Canadian head office in Montr�al.

Charles will replace Joseph Iannicelli who announced in May 2011 that he is leaving Standard Life, and will begin as CEO with effect from 1 February 2012, followed by Joseph’s departure on 14 February 2012. Charles has extensive experience of the long-term savings and investment industry having held a number of senior positions at National Bank of Canada, and worked in various roles at Fidelity Investments Canada, RBC Dominion Securities and L�vesque Beaubien Geoffrion. He has been instrumental in delivering a strong wealth management organisation and retirement strategy for the bank.

David Nish said:

“I’m very pleased to be welcoming Charles to Standard Life. He is an outstanding candidate for the position and greatly impressed us with his experience, enthusiasm and leadership credentials. Canada is a very important market for Standard Life and our business is performing well. Following the launch of our repositioned brand in Canada in September, we’re creating momentum in the marketplace. We’re strengthening our growth in the long-term savings and investment market and continuing our transformation of the business, which Charles will now lead.”

“I’d also like to thank Joseph for his leadership of Standard Life in Canada since 2005. As well as strengthening the Canadian business and its market position he has been a valuable member of the Standard Life Group Executive Team.”

Charles Guay commented:

“Standard Life has a proud heritage in Canada and I’m delighted to have been asked to lead the company. We have a big opportunity for the business thanks to the investment that Standard Life has made in the Canadian market. Standard Life Canada has repositioned as a long-term savings and investments company, has a strong and expanding distribution capability, and is part of a financially strong Group. I also believe that Standard Life is well placed for forthcoming regulatory change such as Pooled Registered Pension Plans. I am confident that Standard Life is ideally positioned to help Canadians save and invest for their long-term future.”

Charles Guay profile

2001-2011     National Bank of Canada

  • Senior Vice President, Strategies, Marketing and Investment Solutions, Wealth Management; and President and CEO, National Bank Securities (2008-2011)
  • Senior Vice President – Wealth Management, National Bank of Canada (2007-2008)
  • President and CEO, National Bank Securities and Altamira (2005-2007)
  • President and COO, National Bank Securities (2001-2005)

1998-2001     Fidelity Investments Canada, District Vice-President
1995-1998     RBC Dominion Securities, Investment Advisor
1994     L�vesque Beaubien Geoffrion, Fixed Income Trader

  • Born in Qu�bec City, Canada in 1972
  • Married, 3 children
  • Graduate from Universit� Laval (Qu�bec City), Bachelor of Business Administration, major in finance and marketing (1994)
  • Fellow of the Canadian Securities Institute (1998)
  • Board Director with the Investment Funds Institute of Canada
  • Actively involved with various not-for-profit organisations, including Forces AVENIR, Foundation of Stars and Jeune Chambre de commerce de Montr�al

Charles will join the Standard Life Group Executive team along with the Executive Committee and Board of Directors in Canada.

Standard Life in Canada

Standard Life Financial has �22bn ($CAN40bn) of assets under administration, 1.4 million customers and 2,000 employees. IFRS profit reached �142m ($CAN224m) for the first six months of 2011, an increase of 211% on the previous year. In June 2011, Standard & Poor’s upgraded the financial strength ratings of its main operating entity, The Standard Life Assurance Company of Canada, to A+, underpinned among other things by the Company’s strong earnings and capital adequacy. It had a solvency ratio of 227% at the end of Q3 2011 without requiring external capital.