Mathewson to advise Salmond on economy

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FORMER Royal Bank of Scotland chief executive Sir George Mathewson has been named as a consultant to the Scottish Government’s Financial Services Advisory Board (Fisab) amid a raft of appointments.

The board, which offers advice to the First Minister on his economic strategy, met yesterday for the first time since May’s Holyrood elections.

Eight new members joined the board, including Standard Life chief executive David Nish, Barclays Wealth managing director Mark Little and Lloyds Banking Group managing director Philip Grant.

Angus Macpherson, head of investment banking at Espirito Santo, State Street vice-president Barry Muir and Ian Macmillan, managing director at JP Morgan, also took up seats on the board.

David Fleming, national officer for the Unite trade union, and Seamus McDaid, convener of higher education trade body Universities Scotland, complete the Fisab line up.

Finance secretary John Swinney said: “Scotland has a long-established reputation for financial services and Fisab brings together the brightest and best financial minds in Scotland. Their specialist knowledge and expertise has proved invaluable to the Government and the new members will strengthen that.”

The existing members of Fisab are: Martin Gilbert, chief executive of Aberdeen Asset Management; Benny Higgins, head of Tesco Bank; Mark Tennant, chairman of trade body Scottish Financial Enterprise; Ian Ferguson, from insurer Aviva; Andrew McLaughlin, from Royal Bank of Scotland; John Rendall, from HSBC; Magnus Swanson, of law firm Maclay, Murray & Spens; and Scottish Enterprise chief executive Lena Wilson.

The First Minister and several of his ministers also sit on the board, along with civil servant John Mason.

The members who have stepped down include Professor Anton Muscatelli, the former convener of Universities Scotland; Margaret Wallace of Morgan Stanley; Otto Thoresen, formerly of Aegon; Tim Keaney of Bank of New York Mellon and Archie Kane, formerly of Lloyds Banking Group.