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New finance chief

Begbie to replace Jones at helm of SFE

Sandy Begbie: looking forward to collaborating

Financial services veteran Sandy Begbie has been appointed chief executive of Scottish Financial Enterprise (SFE), the representative body for the industry.

Mr Begbie, whose career has included spells at Aegon, RBS, Standard Life and Tesco Bank, will join on 1 October. He will work alongside Graeme Jones, who is retiring from the post at the end of this year following five years in the role.

SFE chairman Philip Grant said that under Mr Jones SFE had experienced a 25% increase in membership and delivered an ambitious strategy to strengthen Scottish financial services.

“Sandy is an outstanding leader with the right balance of experience to lead SFE,” he said.

Mr Begbie most recently completed an 18-month contract as chief transformation officer at Tesco Bank. He has also been developing the Young Person Guarantee implementation plan for the Scottish Government in response to rising youth unemployment as a result of the coronavirus crisis.

Graeme Jones SFE CEO

Graeme Jones: reassured (pic: Terry Murden)

Prior to this he was responsible integrating staff following the merger of Standard Life and Aberdeen Asset Management.

He spent eight years as chief people officer and lead executive for China and Hong Kong for Standard Life and led the turn-around of Standard Life’s Chinese joint venture.

He held similar positions within Aegon, Scottish Power and the Royal Bank of Scotland and recently stood down as chairman of the Standard Life Asia board based in Hong Kong. He was appointed senior advisor to the SL Asia board on 1 July.

He was appointed CBE in the Queen’s Birthday Honours List in August 2018 for services to business and social inclusion.

Mr Begbie said: “I’m a big believer that the private sector is a force for good and makes a positive contribution to the fabric of society.

“I’m passionate about the difference financial services can make to people’s lives and joining Scottish Financial Enterprise provides an opportunity to help the industry make a greater impact here in Scotland.

“I’m looking forward to working collaboratively with SFE members and building on the good work Graeme and the Board have done.


“Given the current environment, it’s important that SFE has the right voice and influence to respond to the world we find ourselves in.”

Mr Jones said: “It’s reassuring for me to be handing over to someone of Sandy’s seniority and standing.

“This appointment will ensure continuity in SFE’s purpose, and his expertise and experience will be critical in ensuring the financial services sector is properly represented in these unprecedented times.”

The search process was managed by advisory search firm Carlyle.

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