SANDIE CROMBIE, the chief executive of Standard Life, gave a warning last night that "a float can be pulled the night before", as the FTSE 100 plunged 139 points, reports The Times .
According to the paper, before today’s vote on the life insurer’s planned demutualisation, however, Crombie insisted market volatility would not scupper his flotation plans. He is quoted as saying: “We have plenty of time for the choppy market to calm down,” although it is understood Standard Life has not researched the cost of pulling its float, planned for the summer. The comments came as Standard Life yesterday reported healthy first-quarter new business profits, bolstering arguments for a “yes” vote in today’s poll. Crombie has spent two years streamlining Standard Life in preparati...
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