The chief executive of Standard Life in Hong Kong, Roy Halliday, is leaving the UK-listed business and his responsibilities will be taken on by Neal Armstrong, who is currently CEO in Singapore.

The chief executive of Standard Life in Hong Kong, Roy Halliday, is leaving the UK-listed business and his responsibilities will be taken on by Neal Armstrong, who is currently CEO in Singapore, this publication can confirm. Halliday will leave the firm on 31 March.

“Hong Kong and the wider AEM region are a key priority for Standard Life and the company continues to invest heavily there. We are well positioned to drive forward our ambitions within the market. Standard Life is currently repositioning its business in Hong Kong and is refreshing its strategy in AEM.  As a result, we are realigning our internal operational structure to reflect this,” the company told this publication in an email.

Halliday will be on gardening leave until 31 March. Armstrong’s own appointment change is subject to regulatory approval.

Late last December, Standard Life, which has expanded its investment arm in Asia in recent months, set up an Asia advisory board to guide strategy in the region.

The Standard Life group – including its share of joint venture assets – manages £7.2 billion ($11.7 billion) of assets across the region as at the end of September this year.