Scotland's Economy

Chair of the Scottish National Investment Bank

November 15, 2019 by kristenmcnicoll No Comments | Category Business, Economy, Uncategorized

Economy Secretary Derek Mackay has welcomed the appointment of Willie Watt as the first Chair of the Board of the Scottish National Investment Bank.

Mr Mackay said:

 “I’m delighted to appoint Willie Watt as the first Chair of the Board of the Scottish National Investment Bank.

“The Bank has the opportunity to transform and grow Scotland’s economy. Willie’s background in investment, and his wealth of experience in building organisations with the right kind of culture and values, will help to shape it as a trusted and credible financial institution now and for generations to come.

“I look forward to working together as we build an ethical, sustainable and inclusive Bank to support economic growth across Scotland and help businesses and communities to flourish.”

Background

Willie Watt was CEO of Martin Currie, an international public equities investment firm based in Edinburgh, between 2001 and February of 2019, and will step down as Chairman of the firm in December 2019. Martin Currie is a specialist Investor whose clients are leading global public and private asset owners. Previously Willie spent 16 years with the 3i Group, latterly as Managing Director of its Scottish business. He ran specialist venture, buy out and energy investment teams. Willie is a member of the advisory board of Scottish Equity Partners.

The Scottish National Investment Bank will be operational in 2020, investing in businesses and communities across Scotland. The Bank will take a mission based approach to investment, tackling key societal challenges. The Bank will work with stakeholders to develop its missions, the primary one of which will be supporting the transition to net zero. The Scottish Government has committed to investing £2 billion to capitalise the Bank over 10 years, enabling it to become a cornerstone institution in the Scottish economy.

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