The Standard Life Assurance Company of Canada has announced that president and CEO Joseph Iannicelli has decided to leave the company by the end of the year.
“I’d like to thank Joseph for his leadership and wish him well for the future,” said Bill Black, deputy chair of the Board. “As president and CEO since 2005, Joseph has helped the Canadian operation of Standard Life transform into a long-term savings and investment business and put the elements in place to ensure its sustainable growth.”
After a 19-year career with Standard Life, Iannicelli will be pursuing new and different interests. Standard Life and the board of The Standard Life Assurance Company of Canada have started to search for his replacement.
“We have good opportunities to invest in Canada,” added David Nish, chief executive of Standard Life plc. “We performed strongly in 2010 with record earnings and have made a good start to 2011 as reported in our first quarter results. I’m excited about our prospects and look forward to continuing to build a dynamic business in this important market.”