Sir Gerry Grimstone was appointed Chairman in May 2007, having been Deputy Chairman since March 2006. Sir Gerry became a director of The Standard Life Assurance Company in July 2003. Sir Gerry is also Deputy Chairman and Senior Independent Director of Barclays PLC, an Independent Non-Executive of Deloitte LLP and the Lead Non-Executive at the Ministry of Defence. Previously, he held senior positions within the Department of Health and Social Security and HM Treasury until 1986. He then spent 13 years with Schroders in London, Hong Kong and New York, and was Vice Chairman of Schroders’ worldwide investment banking activities from 1998 to 1999.