Matthews to net £2m profit on Scots home

NOT only will Trevor Matthews walk away from Standard Life with a package thought to be worth around £1.6 million, he's also set to make a bucketload of cash from the sale of his Edinburgh home.

Matthews, who quit as chief executive of the company's life and pensions business in January, has his family home in one of the capital's more salubrious areas on the market for offers over 3.5 million.

The Australian bought the detached Victorian villa for not much more than 1m after moving from Japan in 2004. The property, being marketed by Knight Frank, "boasts a fine array of original features including exquisite Scottish Baronial thistle cornicing and original black marble fireplaces". Anyone interested?

Hide Ad
Hide Ad

And despite trying to sell in the middle of the credit crunch, Matthews should make a tidy profit of at least 2m. But the chances are the house could go for well over 4m, if he gets 25 per cent over the asking price.

How many Standard Life policyholders have a return like that to look forward to on their investments?


Icelandic borrowers

ICELAND'S central bank has unexpectedly raised its key interest rate to 15 per cent from 13.75 per cent to halt a slide in the local currency and to curb price rises. The bank said the crown currency was now near a historic low hit in November 2001.



ADIDAS has raised its sales growth forecast for Reebok as it announced the struggling brand it bought in 2006 would team up with Vulcabras in Brazil. A joint-venture firm is slated to begin selling Reebok footwear and clothing in Brazil and Paraguay in April.