Standard Life International appoints new CEO

Standard Life International Limited is pleased to announce that Craig Tunstall has been appointed Chief Executive Officer

A qualified actuary, Craig joined Standard Life in Edinburgh in 1992 moving to the company's former Spanish subsidiary in 1995.

Returning to the UK in 1998, Craig was responsible for ISA development prior to becoming Actuarial and Finance Director for Ireland in 2000.

Craig has returned to Dublin from his current role as Business Development Director of Standard Life's German business, where he was responsible for product development and marketing in Germany and Austria.

While in Germany, Craig led Standard Life's diversification from with profits to unit linked business.

Craig's new role will focus on the continuing development of Standard Life International and the company's international product offering for both UK and non-UK residents.

Commenting on his appointment, Craig Tunstall, Chief Executive Officer, Standard Life International Limited said "I am delighted to be joining Standard Life International at such an exciting time in the company's development".

"Having recently enhanced our offshore offering, Standard Life International is already building on the success of its first offshore product launched just over a year ago and the company has ambitious plans for future growth and development." Craig continued, "Offshore investment is becoming a more established part of normal investment and tax planning than it may have been in the past".

"I expect that over time we will expand the products and services available from Standard Life International" In March 2007 Standard Life International launched an enhanced offshore bond, building on the success of the company's first International Bond launch in January 2006.

Managed and serviced by Standard Life International in Dublin, the enhanced International Bond features a significant increase in the range of investment options available to customers.

In addition to the insured funds available previously, advisers and their clients can now choose from a wide range of mutual funds, a panel of Discretionary Fund Managers, a selection of deposit accounts and a whole of market option.

The International Bond also offers a transparent charging structure for customers and flexible commission options for financial advisers.

Unlike onshore bonds where funds are subject to tax on all income and gains, an offshore bond grows virtually free of tax.

When the bond is finally cashed in, the amount of tax owing will depend on the tax status of the person who owns the bond at that time - which can provide better tax efficiency for certain individuals, such as those who wish to gift money to their children/grandchildren in the future or who want to reduce a potential Inheritance Tax liability.

With Standard Life's cross-border business now well established, Murray Drummond, who led the set up and running of Standard Life International from inception, has returned to the UK as Head of European Development to consider opportunities for further international development focused on European countries.

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