Davidson joins board at pensions firm Royal London
Ruth Davidson: quit Tory leadership in 2019 (pic: Terry Murden)
Former Scottish Conservative party leader Ruth Davidson has joined Royal London as a non-executive director.
Ms Davidson, whose term as an MSP ended with last week’s Scottish elections, will take up her role with the pensions and life company on 8 June.
She will be paid £75,000 per annum for board work, plus another £10,000 for committee work, though in 2021 her fees will be pro-rata for a partial year’s work.
Royal London estimates Ms Davidson will spend around 30 days per year on her new role.
She stepped down as the Tory party leader in 2019 but was its spokesman at Holyrood as current leader Douglas Ross did not have a seat.
Ms Davidson, who is also due to take up a seat in the House of Lords, becomes the second high-profile political figure hired by Royal London in recent years. In 2015 former pensions minister Steve Webb joined the company shortly after he left the coalition government.
Kevin Parry: Ruth Davidson is an advocate of diversity
Royal London, the UK’s biggest mutual life company, has significant operations in Edinburgh having absorbed a number of historic brands such as Scottish Life and Scottish Provident.
Chairman Kevin Parry said Ms Davidson would be an invaluable addition to the company’s board.
“I am very pleased Ruth has agreed to join the board of Royal London,’ he said. “She brings a deep understanding of contemporary social issues and is a strong advocate for diversity and a champion of advancing social and environmental responsibility.
“Ruth will be an invaluable and complementary asset to the board as we continue to use our long-term approach as a mutual to shape the way we do business.”
Ms Davidson is credited with increasing the popularity of the Tories north of the border and was even tipped as a future Prime Minister.
A former journalist, she has also been a reservist in the British Army, and currently holds the rank of honorary colonel of 32 Signal Regiment, a position she will hold until next year.