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Mr Nish joined Standard Life in November 2006 as group finance director and a director of the company.
Prior to joining Standard Life, he held senior roles at Scottish Power including finance director and executive director of infrastructure division. Previously, he was a partner at Price Waterhouse.
Gerry Grimstone, chairman of Standard Life, said: "I am delighted to announce that David Nish will succeed Sandy as group CEO of our business. David has a proven track record in our business, and has played a pivotal role in the delivery of our strategy since he joined the company. His unrivalled understanding of our business, his leadership capabilities and strategic vision make him the ideal candidate to lead Standard Life into the next phase of its development."
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