Key Takeaways
- • Standard Life has named Michelle Ostermann CEO of Retirement Solutions and Group CIO, a role subject to regulatory approval.
- • Ostermann most recently led the £32 billion ($42.9 billion) Pension Protection Fund in London, leaving in March after nearly two years.
- • The appointment comes as Standard Life, with £317 billion in assets under management, pursues a pending acquisition of Aegon UK that would lift AUM to around £500 billion.
- • Standard Life plans to launch a pension risk transfer unit in 2027, and Ostermann's hire is positioned to support that expansion.
- • The role fills a leadership gap left by Mike Eakins's departure in March; Nuwan Goonetilleke will remain with the firm as CEO of Standard Life PRT Solutions.
Summary
Standard Life plc has appointed Michelle Ostermann as CEO of Retirement Solutions and Group Chief Investment Officer, according to a Nov. 2 company news release. The London-based retirement group said the appointment is subject to regulatory approval. Ostermann most recently served as CEO of the £32 billion ($42.9 billion) Pension Protection Fund in London, a role she left in March after nearly two years.
Her prior roles include senior vice president and global head of capital markets at the C$320.6 billion ($229.3 billion) Public Sector Pension Investment Board in Montreal, where she was responsible for C$120 billion across public equities, fixed income and liquid alternatives. She also served as managing director at the £36.3 billion Railpen in London. Ostermann is chair of the International Centre of Pension Management.
Standard Life, which reports £317 billion in assets under management, is in the middle of a period of expansion. The firm has a pending acquisition of Aegon UK that would raise its AUM to around £500 billion, and it plans to launch a pension risk transfer unit in 2027. Standard Life plc CEO Andy Briggs said the Aegon UK deal would significantly increase the firm's scale and customer reach, while the pension risk transfer expansion creates opportunities to combine long-term capital with specialist investment capabilities. He added that Ostermann's experience would be invaluable as the firm strengthens its investment capabilities.
The appointment follows the March departure of Mike Eakins, who held the combined title of CIO and Retirement Solutions and Asset Management CEO. Nuwan Goonetilleke, who had served as interim replacement, will remain with the firm as CEO of Standard Life PRT Solutions after a handover period, according to a company spokesperson.
Her prior roles include senior vice president and global head of capital markets at the C$320.6 billion ($229.3 billion) Public Sector Pension Investment Board in Montreal, where she was responsible for C$120 billion across public equities, fixed income and liquid alternatives. She also served as managing director at the £36.3 billion Railpen in London. Ostermann is chair of the International Centre of Pension Management.
Standard Life, which reports £317 billion in assets under management, is in the middle of a period of expansion. The firm has a pending acquisition of Aegon UK that would raise its AUM to around £500 billion, and it plans to launch a pension risk transfer unit in 2027. Standard Life plc CEO Andy Briggs said the Aegon UK deal would significantly increase the firm's scale and customer reach, while the pension risk transfer expansion creates opportunities to combine long-term capital with specialist investment capabilities. He added that Ostermann's experience would be invaluable as the firm strengthens its investment capabilities.
The appointment follows the March departure of Mike Eakins, who held the combined title of CIO and Retirement Solutions and Asset Management CEO. Nuwan Goonetilleke, who had served as interim replacement, will remain with the firm as CEO of Standard Life PRT Solutions after a handover period, according to a company spokesperson.
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