The Scottish National Investment Bank has announced that Eilidh Mactaggart, Chief Executive Officer, has resigned from her role as CEO.
Sarah Roughead will act as CEO with immediate effect whilst the Board initiates a process to find a new, permanent CEO. As the CFO, Sarah is well-positioned to ensure a smooth transition. Prior to her role as CFO, Sarah was at Scottish Equity Partners and brings experience from her background in private equity, venture capital and infrastructure funds. Sarah is supported by a skilled team with extensive private and public sector experience.
The Board and Executive team will continue to deliver on the Bank’s missions, supporting Scotland’s transition to net zero by 2045, investing to improve opportunities for people and communities and harnessing the forces of technology and innovation to build a more resilient, productive economy.
Willie Watt, Chair 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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Note to editors
Scottish National Investment Bank
The Scottish National Investment Bank is Scotland’s first development investment bank, wholly owned by the Scottish Ministers on behalf of the people of Scotland. The Bank is an impact investor, focussed on delivering both commercial returns and mission impacts with its investments. The Bank is a PLC and operationally independent from government.
The Bank invests in business and projects connected to Scotland to deliver long term, patient debt or equity investment where the private market is failing to provide the support businesses and projects require to grow.
The Bank’s missions are:
- Supporting Scotland’s transition to net zero
- Building communities and promoting equality
- Harnessing innovation to enable our people to flourish
The Scottish Government has committed to capitalising the Bank with £2bn in its first 10 years. Over time as the Bank’s initial investments are repaid, the Bank will reinvest those funds in businesses and projects creating a perpetual investment fund to support the Scottish economy in the long term.