There were no obvious signs of jostling elbows among the executives at the Standard Life annual meeting in Edinburgh yesterday and, just in case anybody hadn't got the message, new chairman Gerry Grimstone said the succession of chief executive Sandy Crombie was "not a live issue".

He wasn't asked about it but gave the assurance nonetheless - particularly given the financial performance under Mr Crombie since last year's float. Mr Crombie doesn't intend to step down before he turns 60 in February 2009. Trevor Matthews, the 54-year-old Australian who heads the group's life and pensions operation, is probably still the front-runner to succeed Mr Crombie, but the odds are also shortening on David Nish, who became finance director in November, having held a similar role with Scottish Power.