New bank announces first chief executive

Eilidh Mactaggart, new Scottish National Investment Bank chief executive

THE Scottish National Investment Bank has appointed its first chief executive officer.

Eilidh Mactaggart will lead the bank’s mission-based approach to investing in Scotland’s economy.

Through long-term strategic investment the development bank, which will operate and invest independently of government, will seek to provide finance to power innovation and accelerate the move to a low carbon, high-tech, globally competitive economy.   

Eilidh was most recently managing director, MetLife Investment Management in London and head of European infrastructure and project finance.

She said: “The establishment of the Scottish National Investment Bank will provide long-term patient capital support for ambitious companies, the third sector and infrastructure projects, underpinned by the transition to net zero carbon emissions.

“This is an opportunity to create an ethical and environmentally conscious bank, that will seek to benefit everyone across Scotland.

“I look forward to building the team that will help us achieve the missions set by the Scottish Government and establish the bank as a perpetual financial institution providing long term support to the Scottish economy.”

Willie Watt, Scottish National Investment Bank chair,  said: “We are building a development bank that will support and encourage a fairer and more inclusive economy in Scotland.

“As we emerge from the COVID-19 pandemic, we will be operating in a very different economic landscape. That is why we are pushing ahead with the creation of the bank so that we can play our role in supporting Scotland’s economic recovery in the medium and longer term.

“Eilidh’s excellent track record building and leading successful investment teams will help us achieve that goal.

“We have a unique opportunity to create a trusted and credible financial institution, and I look forward to working with Eilidh.”

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