Standard Life Aberdeen plc (SLA) announced that former Zurich Insurance Group executive Cecilia Reyes will be appointed a non-executive director of SLA with effect from October 1, 2019.

“Cecilia brings 28 years of experience operating in international financial markets in leadership positions in investment and risk management,” said Standard Life Aberdeen.

“Latterly, she was group chief risk officer of Zurich Insurance Group responsible for the global function comprising group risk management and the enterprise risk management framework. 

“Prior to that, she was their group chief investment officer, responsible for the execution of the investment management value chain, including analysis, development and global implementation of the investment strategy for the group’s investments.  

“In both positions, she was member of the group’s executive committee.” 

On joining the SLA board, Reyes will be appointed a member of the risk and capital committee and of the remuneration committee. 

Reyes’ fee as a non-executive director of SLA will be £73,500 per annum.

Her fees as a member of the risk and capital committee and the remuneration committee will be £10,000 for each committee.

SLA chairman Douglas Flint said: “I am very pleased to welcome Cecilia to our board. 

“Her direct experience of risk management and in-depth knowledge of the investment process will be of great value to our discussions at both the board and the risk and capital committee.”

Following this appointment, the SLA board will comprise four executive directors, seven non-executive directors and the chairman. 

The board will be made up of five women and seven men. 

The Financial Conduct Authority and the Prudential Regulation Authority have been notified of this appointment.