Eight directors announced

Board unveiled as SNIB set to open before year end

Willie Watt

Willie Watt: ‘we now have the variety of skills necessary to deliver our vision’

Eight non-executive directors with backgrounds in private equity, banking and technology have been appointed to the board of the Scottish National Investment Bank as it prepares to open for business in the next few weeks.

Economy Secretary Fiona Hyslop announced the appointment of Tracey Ashworth-Davies, Carolyn Jameson, Peter Knott, Jason McGibbon, Nicholas Moon, Candida Morley, Dr Jacqueline Redmond and Sir Jonathan Taylor (full biogs below).

She said they will “help build an organisation with the culture, values and experience that will guide its mission-based approach and help create a more inclusive and sustainable economy.

“The board’s composition brings together extensive experience of impact investment and the knowledge required to identify opportunities to support economic growth across Scotland and help our businesses and communities to flourish.

“Our appointees not only have experience of the areas affected by the Bank’s missions but also of development banking, the third sector, and of financial services, helping underpin strong governance of this new financial institution for Scotland.”

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The Scottish Government is investing £2 billion to capitalise the SNIB over 10 years, enabling it to become a “cornerstone institution” in the Scottish economy.

The bank will absorb the current Scottish Investment Bank, part of Scottish Enterprise, and aims to “help create and shape future markets, spark innovation and tackle socio-economic challenges”. This year’s Programme for Government confirmed that the transition to net zero will be the bank’s primary mission.

Chairman-designate Willie Watt said: “The depth of experience brought together by these appointments reflects both the scale and ambition of what we hope to achieve.

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