FinTech Scotland launches search for new chief executive amid shake-up

FinTech Scotland is on the hunt for a new chief executive after announcing a shake-up at the top.

Scotland has seen strong growth in its financial technology sector in recent years. Picture: AP Photo/Marcio Jose Sanchez

The industry organisation, which has done much in its almost three years of existence to boost the fortunes of Scotland’s financial technology sector, said Stephen Ingledew would become executive chairman after leading the body as chief executive from its formation.

Ingledew is to remain “very much involved” with the strategic leadership of the group and the move to executive chair will enable the body to “develop further the leadership team as it looks to build on the impact to date as a cluster management body”. He is due to take up the new role from next month.

David Ferguson, the current non-executive chair of FinTech Scotland, will step down from the role which he has held for more than two years. He will continue to actively support the group as it moves into its next phase.

Over the coming months, FinTech Scotland will commence the process of appointing a new chief executive and aims to complete that process by the end of the year.

In the interim, from early November, Nicola Anderson, the current strategic development director of FinTech Scotland, will take on the role of acting chief executive.

Anderson has been on full-time secondment with the organisation from the Financial Conduct Authority for two years and is credited with playing a “significant role” in supporting the fintech SME [small and medium-sized enterprise] community and the rapid progress of fintech initiatives.

In addition, to his role of executive chairman for FinTech Scotland, Ingledew will take on a part-time secondment to Scottish Enterprise as an interim director for six months from November.

Ingledew said: “It has been a privilege to lead FinTech Scotland and deliver significant milestones across the fintech cluster. This is the right time to further strengthen further the leadership team.

“I’d like to take this opportunity to thank David for his valuable leadership as chair as well as the fintech community and strategic partners whose ongoing collaboration to date has made the progress possible.

“I look forward to working with the Scottish Enterprise team to accelerate and shape strategic programmes, sharing my experience of developing clusters to drive inclusive innovation and economic opportunities.”

Ferguson, who is the founder and chief executive of Edinburgh-based Nucleus Financial, one of Scotland’s most successful fintech businesses, added: “It’s been hugely interesting seeing FinTech Scotland come into being and to see Stephen do such a great job of generating momentum over the last couple of years. I’m grateful to everyone who has joined in and helped carry us to the point where things are so well set up for the next phase.”

FinTech Scotland was founded in January 2018 as a joint initiative by Lloyds Banking Group, HSBC, the University of Edinburgh, the Scottish Government and Scottish Enterprise.

The organisation is now supported by a broad range of global financial services, technology and professional services firms as well as the University of Edinburgh and the University of Strathclyde, the Financial Conduct Authority, the Scottish Government and Scottish Enterprise.

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