Business

Abrupt departure of state bank boss was for ‘personal reasons’

The former chief executive of the Scottish National Investment Bank has issued a statement saying her decision to resign was “ultimately” for “personal reasons”.

Eilidh Mactaggart stepped down last week with immediate effect from the £235,000 post after less than two years in the job. Both the SNIB and Scottish Finance Secretary Kate Forbes subsequently refused to elaborate on the reasons for Ms Mactaggart’s departure.

In a statement issued this afternoon, Ms Mactaggart said she was “extremely proud” of her achievements as head of the state-owned bank, which will receive £2 billion in Scottish Government funding over the next 10 years to support green jobs as the country transitions to a net zero economy.

“My decision to resign from my position as chief executive of the Scottish National Investment Bank was a difficult decision to make, but ultimately it was made for personal reasons,” she said.

READ MORE: SNP secrecy row over vanishing state bank boss

“I am extremely proud of everything I achieved while I was the Bank’s chief executive, including: launching a bank in the midst of a global pandemic while working remotely; setting its investment strategy; and, establishing its investment portfolio.

“I am of course, most proud of the incredible team of talented individuals that the bank now has in place, all bound by a common purpose to deliver investment to businesses and projects connected to Scotland to support the bank’s missions.

“It was a privilege to be given the challenge of launching the Scottish National Investment Bank and being its inaugural chief executive and I wish the team I have built all the best for the future. I am considering a number of opportunities and looking forward to spending some more time with my young family in the meantime.”

A spokesperson for Ms Mactaggart said there will be no further interviews or comment.

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