The 190-year-old Edinburgh-headquartered firm has named Keith Skeotch as chief executive David Nish's successor.

The UK-listed savings and investments giant Standard Life has appointed the chief executive of its Standard Life Investments business, Keith Skeoch, to succeed David Nish as chief executive. Nish will be leaving the firm after six years at the top.

Standard Life, which operates in a number of jurisdictions including Asia and has a wealth management segment, said its board had been discussing succession planning with Nish over recent months and decided that August would be the right time for Nish to hand over to Skeoch.

It has been a busy year for the firm, most notably with the acquisition of Ignis Asset Management and the disposal of its Canadian companies.

“David has shown great leadership over the last six years and the outstanding progress we have made in that time has been achieved through his incredible drive and determination. He has changed the shape of Standard Life allowing us to successfully grow globally through world class investment management and distribution businesses,” said Standard Life's chairman, Sir Gerry Grimstone.

Standard Life said Skeoch would continue on as chief executive of its investments arm until the transition was complete but gave no details as to who would replace him to lead Standard Life Investments.

“He's [Skeoch] been an integral member of Standard Life's senior team over the last 11 years. Under Keith's leadership the asset management part of our group has developed into a leading global player,” said Sir Gerry.

“He has an exceptional understanding of world markets and the opportunities they offer, and has the right talent and experience to continue to deliver our strategy and take Standard Life on the next stage of our journey.”

Earlier this year, Standard Life Investments posted a 30 per cent year-on-year increase in pre-tax profit to £257 million ($395 million) in 2014.