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Board hire for water group

Business Stream taps Spowart’s experience

Jim SpowartJim Spowart, who created and led several of the UK’s first challenger banks, is to join Business Stream as a non-executive director.

The founder and CEO of Direct Line Financial Services, Standard Life Bank and Intelligent Finance, Mr Spowart brings a wealth of experience to Scotland’s leading water retailer as it prepares to compete in a new £2.5 billion market from Monday.

Since retiring from Intelligent Finance in 2002, he has served on many company boards and has been involved in a variety of consultancy projects in Europe and the US. He was awarded an Honorary Doctorate from Edinburgh Napier University for his services to banking and the economic development of the central belt of Scotland.

Susan Rice, chairman of Business Stream said: “Jim Spowart is well known for his achievements and innovations in the world of banking, where he challenged the status quo, utilising innovative technology to capture a sizeable slice of the mortgage and current account markets.  He also has extensive knowledge of the water sector and significant board experience.

“His expertise will be extremely valuable to Business Stream as we seek to grow our market share. I am delighted to welcome Jim to the board as we make final preparations for the market opening in England.”

He steps down from the board of Scottish Water on 31 March, after completing two consecutive terms as a non-executive director. 


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