Standard Life is slashing up to 500 jobs as fraction of an effectiveness drive by the company’s chief executive. David Nish, who was remunerated £1.2million preceding year, declared back in the month of June that he might be initiating a sequence of organizational modification to save the group £100million by the close of 2011.

On Wednesday the U. K. insurer Standard Life recorded a 10% increase in its first-half operating profit and a 4.8% augment in its interim dividend, aided by a muscular revitalization in sales amid cipher of improving financial markets.