Standard Life strengthens Independent Governance Committee

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• Maggie Craig joins the Independent Governance Committee for Standard Life pension scheme members
• Appointment extends Independent Governance Committee members to seven

Standard Life, part of Phoenix Group, announces the appointment of Maggie Craig to the Independent Governance Committee (IGC) overseeing the interests of over 2.5 million workplace personal pension scheme members. The appointment further supports the oversight and scrutiny afforded to customers, increasing membership to seven and above the five-person regulatory minimum.

Maggie, an industry veteran, has spent all her executive career working in a variety of financial services roles with providers - Standard Life and Aegon, and industry trade body - the Association of British Insurers prior to joining the Financial Conduct Authority (FCA), in 2014, as Head of Insurance and Pensions Policy.

Maggie was appointed Head of Department, Scotland in 2017, led the strategy for the development of the FCA Scotland's Office and went on to set up the FCA Devolved Nations team.

Outside of financial services, Maggie is Chair of Children 1st, Scotland's national children's charity and chairs the Audit and Risk Committee of the Scottish Courts and Tribunal Service.

Maggie, having lectured on financial services regulation at Glasgow College and Heriot Watt University in Edinburgh, is an external examiner for the Financial Services and Regulation Skills module of the Diploma at The University of Edinburgh Law School and is an honorary Fellow of the Institute and Faculty of Actuaries.

David Hare, Chair of the Standard Life Independent Governance Committee, said: "Maggie's track record in financial services is second to none. She is one of the industry's best known and well-respected executives and I am delighted to welcome her to the Standard Life IGC. Her experience, in and outside of financial services, stretching over many decades, will help strengthen the work of the Committee and benefit the interests of pension savers."

Maggie Craig, Non-Executive Director of the Standard Life Independent Governance Committee said: "I am delighted to join the Standard Life IGC at a pivotal time as customers' interest are brought to the fore with the advent of ‘Consumer Duty'."

Within Phoenix Group, which incorporates Standard Life, Phoenix Life and ReAssure, membership of the Independent Governance Committee for each company is harmonised. Maggie therefore also sits on the IGCs of Phoenix Life and ReAssure.

Maggie Craig joined the IGC in January 2023.

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About Standard Life

• Standard Life is a brand that has been trusted to look after peoples' life savings for nearly 200 years 
• Today it proudly serves millions of customers who come to Standard Life directly, through advisers and through their employers' pension scheme.
• Standard Life is part of the Phoenix Group, the largest long-term savings and retirement business in the UK. We're proud to be building on nearly 200 years of Standard Life heritage together
• Our products include a variety of Pensions, Bonds and Retirement options to suit people's needs, helping our customers to invest and save for their future. We're proud to offer a leading range of sustainable and responsible investment options.
• We support our customers on their journey to and through retirement with comprehensive, easy-to-understand guidance so they can invest in the right way for their needs, and plan a future they feel confident about.
• The value of investments can go down as well as up, and may be worth less than originally invested.

Standard Life Independent Governance Committee:

• Dr David Hare – Chair and Independent Member
• Rachel Haworth – Independent Member
• Jo Hill – Independent Member
• Andrew Milligan – Independent Member
• Maggie Craig – Independent Member
• Steven Blight – Employee Member
• Rona Cameron – Employee Member