High-level appointments unveiled by team behind Scottish stock exchange

Plans to launch Scotland’s first stock exchange since the 1970s have taken another step forward with twin appointments.

The new faces at Project Heather are Helen Webster and Elaine Morton. Picture: Contributed

Elaine Morton has been hired as chief regulatory and compliance officer while Helen Webster becomes chief operating officer.

In addition, three interns from Scottish universities have joined the team, in collaboration with the Ethical Finance Hub and Entrepreneurial Scotland, to work on “discrete projects” over the summer months and support the venture as it prepares to launch in the second half of the year.

The exchange will have its HQ at 39 George Street in the heart of Edinburgh having signed an initial four-year lease with Crown Estate Scotland for some 7,800 square feet of office space.

Dubbed Project Heather, the stock exchange plans recently gained the support of Scottish Enterprise via a six-figure regional selective assistance grant, following a successful fundraising co-ordinated through business advisory firm AAB.

Morton joins Project Heather from Sainsbury’s Bank, where she was head of conduct, compliance and financial crime. Webster joins from Standard Life Aberdeen, where she was chief executive of Aberdeen Life and head of governance, UK and Ireland.

Tomas Carruthers, chief executive and founder of Project Heather, said: “I’m delighted with the quality of the team we have assembled and their terrific depth of experience. I’m also pleased that over 50 per cent of our team are women and that this pattern of diversity is reflected in our executive team.

“Culture and values are key to creating a trusted, accessible and innovative new financial institution, and we look forward to developing a great place to work.”