Alan Rankine is currently chief actuary and will take up his new role from the start of January. As well as becoming chief financial officer (CFO) he will take up the position of an executive director of the board, effective from this month, with both positions subject to regulatory approval.

Rankine will replace current finance director Martin Pringle, who will leave Scottish Friendly to “pursue other career opportunities”. After taking on the role of acting chief executive, Pringle agreed to step back into the CFO role to ensure a smooth handover to Stephen McGee and to help with the process of looking for a successor to take on the CFO post.

Scott McNeill, current head of financial insurance and risk, has been appointed to replace Rankine as chief actuary from January 1.

Alan Rankine is due to take up the role of chief financial officer from the start of January. Picture: Peter Devlin

McGee said: “Having individuals with the calibre and experience of Alan and Scott stepping into these roles shows the depth and strength of talent within the organisation.

“I would also like to take this opportunity to thank Martin for his hard work and commitment over the years and for his dedication to significantly growing our society during his time. I wish him well for the next stage in his career.”

Scottish Friendly also announced the appointment of Alexander Manas as commercial director, taking over from Neil Lovatt who recently retired.

In April, the mutual reported record annual sales despite “significant” business and economic challenges but warned the backdrop remained uncertain.

160-year-old Glasgow mutual unveils new finance chief in shake-up

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