Rennie: New bank boss must focus on economic growth and renewables

Scottish Liberal Democrat economy spokesperson Willie Rennie MSP has today urged the newly appointed boss of Scotland’s state-owned National Investment Bank, Al Denholm, to make economic growth and renewables investment a key priority and warned that the bank will need to be transparent about how it operates going forward.

The bank was opened in November 2020 with £2 billion worth of funding from the Scottish Government. Its former boss, Eilidh Mactaggart, stepped down in February 2022 with no explanation given for her departure and an exit payment of £117,500.    

Mr Rennie said:  

“The Scottish National Investment Bank lacked a steady hand on the tiller for more than a year, so it’s a relief to see that the government have finally got the basics together and sorted out a boss.  

“This SNP-Green government has long been out of its depth when it comes to the needs of business and industry.

“I would like to congratulate Mr Denholm on his appointment and express my hope that under his leadership the bank can deliver a robust investment plan for the country.  Specifically, that means building a high wage, a highly skilled economy and securing a place for Scotland at the forefront of the renewables revolution.

"We will also need to see impeccable standards of openness and transparency. This has not always been the case during the bank's short life to date."