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Cynics wonder why the dour 59-year-old Scotsman was decorated since Standard Life shares have fallen 19 percent this year. But that is better than the rest of the insurance sector and he is credited with rescuing Standard Life after it was accused of squandering billions of investors' money by the Financial Services Authority, and forced to demutualise in 2006.
Crombie joined Standard Life as a 17-year-old trainee actuary from a state school, at first living in a hostel and flattening his Fife accent to fit in. Now a father of two, he climbed the corporate ladder and became chief executive in 2004, presiding over sweeping jobs cuts.
In 2004, he notoriously bought a Porsche after sacking 1000 staff. Recently he said Standard Life had produced "a solid performance in the first nine months of 2008, despite the market turbulence."
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