DONALD Gordon, the founder and chairman of South Africa’s Liberty Life (LibLife), unexpectedly announced his retirement on Friday — news that created speculation of a merger with Standard Bank. In a short statement, the insurer said the future of bourse-listed Liberty Investors Ltd, through which the Gordon family exercises control of its dominant shareholding in the Liberty group, is under review. Liberty Life Association of Africa shares soared almost 10% and Standard Bank Investment Corp were 7% higher as the market bet Gordon’s retirement, after 42 years as chairman, would aid an alliance.