Mr Hylands continues as an executive director and will bring his considerable experience with Standard Life and his financial knowledge to this complex project.
A search will now begin for a new Group Finance Director with public company experience. Mr Hylands will combine his new role with that of Group Finance Director for the period of this search.
The Board has also appointed a team of experienced advisors to support the Company in preparing for demutualisation. They are:
Merrill Lynch - Financial advisors
Watson Wyatt - Actuarial
PricewaterhouseCoopers - Reporting accountants
Slaughter & May, Dundas & Wilson (Scotland) - Legal
Sandy Crombie, Standard Life chief executive, said: "We are fortunate to have someone of John Hylands’ capabilities and experience to lead this very important demutualisation project.
"Having just appointed a high calibre head of UK Life and Pensions in Trevor Matthews, we have now begun a search for a new Group Finance Director with the very different skills and experience we will need in that role as a public company. This person will strengthen further the team which will take Standard Life into a new era."
