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
As your White House correspondent, I ask the tough questions and seek the answers that matter.
Your support enables me to be in the room, pressing for transparency and accountability. Without your contributions, we wouldn't have the resources to challenge those in power.
Your donation makes it possible for us to keep doing this important work, keeping you informed every step of the way to the November election
Andrew Feinberg
White House Correspondent
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.