Change at top as Scottish National Investment Bank CEO resigns

Eilidh Mactaggart has quit her role as chief executive of the Scottish National Investment Bank, which only launched in November 2020.

Sarah Roughead will act as chief executive with immediate effect while the board initiates a process to find a new, permanent boss.

Prior to her role as chief financial officer of Scotland’s new national investment bank, Roughhead was at Scottish Equity Partners and is said to bring experience from her background in private equity, venture capital and infrastructure funds.

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The Scottish National Investment Bank was launched by the First Minister Nicola Sturgeon in November 2020. It aims to use £2 billion of Scottish Government funding over its first decade to invest in businesses and projects which aim to help the country meet its 2045 net zero carbon target, tackle geographic inequalities and foster innovation in the country’s businesses.

Sarah Roughead, acting CEO, the Scottish National Investment Bank. Picture: Mike Wilkinson

Willie Watt, chairman of the board, said: “The board would like to thank Eilidh for the contribution she has made as we successfully launched the Scottish National Investment Bank. We have a strong team in place that remains focused on investing to deliver growth, jobs and enhanced social and environmental benefits for the people of Scotland.

“Having committed almost £200 million since launch, we are in an excellent position to deliver on our objectives, and I am proud of the significant investments we have made so far.

“We have lots more to do and I look forward to continuing the bank’s missions to support the transition to net zero, extend equality of opportunity and harness innovation to enable the people of Scotland to flourish.”

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