Benny Higgins, the former CEO of Tesco Bank has been appointed as the strategic adviser for the establishment of the Scottish National Investment Bank.
Mr Higgins developed the implementation plan for the bank’s creation. The Scottish Government has now accepted all 21 of the recommendations within the report. Mr Higgins new role will now build on this work as the bank is launched.
As strategic adviser, Mr Higgins will lead the development of the bank, advising and working with Scotland’s ministers, and building support for the bank among the country’s civic and business organisations.
Mr Higgins will also work closely with the Scottish Government’s programme director to ensure the National Investment Bank helps to drive innovation and accelerate the move to a low carbon, high-tech, connected, globally competitive and inclusive economy.
Scotland’s First Minister Nicola Sturgeon said:
“Benny Higgins appointment to drive forward the work on the Scottish National Investment Bank will see him build on the invaluable work he did to develop the implementation plan for the Bank, recognising the unique skills and insights he will bring to the delivery programme.
“Benny brings the extensive financial sector experience this project requires combined with a clear commitment to deliver a mission-driven investment bank that can help transform our economy.
“An early priority will be to bring together stakeholders from across the public and private sectors to inform the final proposals that will be included in legislation to establish Scotland’s National Investment Bank.
“The bank is a hugely exciting development for Scotland and I look forward to working with Benny Higgins to establish it as the cornerstone financial institution in Scotland’s economic architecture, promoting and providing finance to help achieve our economic ambitions.”
— First Minister (@ScotGovFM) June 22, 2018
Benny Higgins told DIGIT:
“The creation of The Scottish National Investment Bank will be an essential element to underpin the future economic well-being of our country. Hard yards lie ahead, but I relish the challenge that the First Minister has set us. We will build an institution that is fit for purpose and, in particular, one that has the right values.”