Standard Life is to replace finance director Mr John Hylands as it tries to strengthen its board ahead of a planned public share offering.
Standard Life, Europe's largest mutual insurance and savings firm, is recruiting executives from outside its management team of group veterans to build investor confidence ahead of its planned listing in 2006.
The company said earlier this month it had hired Mr Trevor Matthews from Canadian insurer Manulife's Japanese business to its run life and pensions operations.
"We have now begun a search for a new group finance director with the very different skills and experience we will need in that role as a public company," Chief Executive Ms Sandy Crombie said.
Mr Hylands, who joined the firm in 1979, will lead the project to demutualise the company, Standard Life said. He will carry on as finance director while Standard Life looks for a replacement.
The 179-year-old society said in April it would ditch its once-prized mutual status as new British funding rules and a declining market for its core with-profits products forced it to look beyond policyholders for capital.