The new Standard Life Foundation will focus on independent research to strengthen financial wellbeing and reslience
Former Chancellor of the Exchequer Alastair Darling is expected to take on the role of chair of the newly formed £80 million Standard Life Foundation.
Darling is one of the 10 inaugral trustees of the foundation, which was announced at Standard Life's AGM in May this year and will focus on independent research to strengthen financial wellbeing and reslience in the UK.
The charity is being funded using unclaimed cash entitlements and proceeds from the sale of unclaimed shares as a result of Standard Life’s demutualisation in July 2006.
During the past decade Standard Life has made continued efforts to trace those entitled to claim and was successful in uniting over 97% of people with their entitlements before the deadline of 9 July 2016.
Standard Life will make a gift of around £80 million to the Standard Life Foundation.
The foundation has confirmed Howard Davies as its chief executive. Prior to his appointment Davies led Standard Life’s public affairs team and has considerable experience in the area of long-term savings policy.
The Foundation’s Board of Trustees will be made up of six independent trustees and four trustees from Standard Life employees.
Joining Darlling, who is expected to be elected chair in January 2017, are the following:
- James Daunt, chief executive of Waterstones
- Naomi Eisenstadt, Senior Research Fellow at Oxford University, and Independent Advisor to the Scottish Government on Poverty and Inequality
- David Hall, Professor, Education Policy & Practice and Head of Institute Education, University of Manchester
- Lucy Heller, chief executive of educational charity, ARK
- Elaine Kempson, Emeritus Professor, University of Bristol
- Sir Gerry Grimstone, Chairman, Standard Life plc
- Keith Skeoch, Chief Executive, Standard Life plc
- Colin Clark, Director, Global Client Group, Standard Life plc
- Graeme McEwan, Chief Communications Officer, Standard Life plc
The Foundation will set out the priorities of its work during the course of 2017.
