Paul Matthews takes chief exec's post at Standard Life UK

STANDARD Life has appointed an internal candidate to the role of UK chief executive, a position that has not existed since Trevor Matthews resigned in 2008 to take the helm at Friends Provident.

New UK chief executive Paul Matthews - no relation - has held a number of positions at the Edinburgh-headquartered life and pensions giant since 1989, most recently acting as UK "take to market director", which involved overseeing the firm's marketing and distribution functions.

Group chief executive David Nish had been performing the duties of the UK boss but a spokeswoman for Standard Life said now was the "right time" to resurrect the role. She said Matthews' appointment would allow Nish to focus on group strategy and the future direction of the company.

Prior to his career at Standard Life Matthews, 51, held various investment and sales roles at National Mutual Life. He captained the England under-19s rugby team in 1979-80 but was forced into early retirement through injury.

Matthews said forthcoming reforms such as the Retail Distribution Review and the National Employment Savings Trust would offer opportunities for Standard Life's UK business, which is "strategically well positioned" for the changes.

He said: "In the past 18 months we have taken significant steps to build on our leading position in the UK long-term savings and investment market."