Mr Pennor, based in Edinburgh, brings over 25 years’ experience in the asset management and insurance investments industry.

His expertise includes business development and implementation, investment governance, and the asset management requirements of parent firms. He was formerly a director at EY, leading its Scottish wealth and asset management strategy.

Capco is a global technology and management consultancy dedicated to the financial services industry, specialising primarily in banking, capital markets, wealth and asset management and insurance.

Roland Inglis, Capco’s head of Scotland, said: “Derek’s extensive experience in the wealth and asset management space will be invaluable as we help firms to grow and transform their businesses, and offer more engaging products and experiences to their clients. His business development and delivery expertise will also benefit our wider work in Scotland across the banking and digital spaces, where we are continuing to expand our broader consultancy offering.”

Mike Ethelston, UK Managing Partner at Capco, said: “This new appointment in Edinburgh will be key to driving the next phase of our growth in Scotland across several key areas – wealth, asset management, insurance and digital ­– that are particularly important within the local financial services industry.

“The opportunities presented by digital disruption to enhance and redefine customer and employee experiences for banks, asset managers and other financial institutions are immense. We are already seeing accelerating demand for innovative solutions and new business models across banks and asset managers as they embrace technology and process-driven transformation.”