Former Standard Life CEO Nish signs £115,000 Vodafone contract

Vodafone Group has appointed former Standard Life CEO David Nish as a non-executive director.

Mr Nish, 55, was boss at the Edinburgh-based insurance giant from 2010 until September this year.

During his time at Standard Life he almost doubled the firm’s market capitalisation.

He has also held high profile roles at Scottish Power and PricewaterhouseCoopers.

During his time at Standard Life, the insurers market capitalisation increased from £4.8 billion to £9.3 billion and the company returned £3.7 billion to shareholders.

Vodafone Group chairman Gerard Kleisterlee said: “David is a highly experienced business leader who helped build Standard Life into one of the UK’s largest asset managers, delivering significant returns to shareholders.

“His financial expertise and capital market skills will be a complementary addition to the Board and I am delighted to welcome him to Vodafone.”

Mr Nish will be in line to receive the standard £115,000 fee the telecoms giant pays its non-executive directors.

At the moment he also holds a non-executive director position on the board of the Green Investment Bank where he is paid an annual fee of £30,000.

In the past the Glasgow-born businessman has been a non-executive of Northern Foods, Thus, HDFC Life (India), the Royal Scottish National Orchestra and deputy chairman of the Association of British Insurers.

Mr Nish was replaced at Standard Life earlier this month by Standard Life Investments boss Keith Skeoch.