Boylan who is Aberdeen Group’s chief financial officer served on the board until the asset manager reduced its stake in Standard Life on October 8. Standard Life confirmed her board position ceased trading on October 12.

In a statement, the insurer, said: “Following Aberdeen’s announcement on 8 October 2026 regarding the sale of 52,000,000 ordinary shares in Standard Life, Aberdeen’s shareholding has reduced to approximately 5.3%.

“Under the terms of its arrangements with Standard Life, Aberdeen no longer satisfies the ownership threshold required to nominate a director to the board.”

Aberdeen sold 52 million ordinary shares, around  at a price of £8.39 per share, raising £436m. The group was previously called Phoenix Group when it acquired the Standard Life brand in 2021 from Aberdeen.