Standard Life on Wednesday sought to reassure investors with a 43 per cent increase in 2007 operating profit after its failed £4.7bn bid for Resolution but left unanswered questions over succession and strategy.

Sandy Crombie, chief executive, refused to say when he planned to retire, adding that the group was in no hurry to replace Trevor Matthews, the head of its UK financial services division, who has been appointed chief executive of rival Friends Provident.