STANDARD Life has said Paul Matthews, chief executive of its UK and Europe pensions and savings business, is set to retire from the firm after 28 years with the business. Mr Matthews will stand down as an executive director on March 1, and leave the company on August 31. Barry O’Dwyer, currently chief executive of Standard Life Assurance, will replace Mr Matthews on the board and assume his responsibilities for the group’s pension and savings business. Mr O’Dwyer’s basic annual salary will be £525,000. He has held senior positions with Prudential and HBOS as well as Standard Life. Sir Gerry Grimstone, chairman of Standard Life, thanked Mr Matthews for his unparalleled dedication and commitment to the firm. He noted Mr O’Dwyer would bring extensive knowledge of the savings market to his role on the group board.
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