UK - Standard Life's former managing director of corporate, Gerry O'Neill, has been suspended from his role at the firm.
The life and pensions provider confirmed O'Neill has been suspended pending investigation but gave no further detail as to why the decision had been taken.
It said following the launch of its corporate wraps platform Lifelens in February O'Neill moved from his role as head of corporate in Standard Life's take to market business to support its executive team on a number of strategic opportunities.
Stephen Ingledew, who was formerly distribution director, has been appointed managing director, corporate. He joined Standard Life in 2007 and has played a significant role in designing and delivering the transformation across its retail distribution channel.
A spokeswoman from the company added: "This has no impact on our operations or on our clients and customers."
O'Neill co-founded Standard Life's employee benefits arm Vebnet in July 2000 with Sandy Nairn.
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.