Finance Secretary refuses to say why investment bank boss quit
Eilidh Mactaggart resigned as chief executive of the Scottish National Investment Bank on Friday.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Finance Secretary Kate Forbes has said the reasons for the former chief executive of the country’s investment bank stepping down were “for her and the board”.
Eilidh Mactaggart left her role as chief executive of the Scottish National Investment Bank (SNIB) abruptly on Friday, with no reason given.
When questioned on Tuesday about the move, Ms Forbes refused to say why as she sought to reassure MSPs that Ms Mactaggart’s successor would be agreed by ministers.
“I recognise that there is significant interest and questions around the chief executive’s resignation due to the seniority of her role and the importance of the SNIB to Scotland’s economy,” Ms Forbes said in response to a question by Scottish Tory finance spokeswoman Liz Smith.
“The reasons for the former chief executive’s resignation are a matter for her and the bank’s board.
“The board have kept ministers up to date with all matters relating to the chief executive and the executive team and board members will continue to provide strong leadership and direction for staff and bank clients.”
Pushed on the issue by Ms Smith – who asked if the Finance Secretary understood the need for “full transparency” given the significant public investment in the bank – Ms Forbes again refused to answer.
“I would echo the comments that Liz Smith has just quoted me on because since its launch, the bank has made significantly good progress,” she said.
The Finance Secretary added: “As I said already, I know there is public interest, there is political interest in answers and ensuring that there is transparency.
“I can say, once again, matters related to the former chief executive’s resignation from the bank are very much for the former chief executive and for the bank’s board.”
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.