Dame Rice is an experienced chartered banker who has had a distinguished career in finance as the former chair and CEO of Lloyds TSB Scotland, where she was the first female in Europe to lead a clearing bank, and is currently managing director of Lloyds Banking Group Scotland.

She was also the founding Chair of the Scottish Fiscal Commission and is the former President of the Scottish Council for Development and Industry (now named Prosper).

Dame Rice has extensive experience in corporate governance as a member of boards across a wide range of public and private sector organisations around the UK and internationally. At present, she is the chair of Scottish Water where she has governed the board since 2015 and will step down at the end of this year on completion of her term. Her other recent board experience includes the Bank of England, Scottish and Southern Energy and J Sainsbury plc.

Dame Rice currently sits on the board of the Office for Budget Responsibility and chairs the North American Income Trust and the Global Ethical Finance Initiative, which is currently delivering the largest finance-focused campaign for COP28. She has received honorary degrees from a number of Scottish universities, including Edinburgh and Aberdeen, and she was awarded a DBE in the 2018 New Year’s Honours List.

Beginning her role as chair in November, Dame Rice takes over the helm from its interim chair, the group chief executive of Forth Ports, Charles Hammond OBE.

Dame Rice said: “The Forth Green Freeport has a broad and exciting vision for Scotland and I’m pleased to be leading the team in its execution.

“The creation of major port infrastructure, the development of new green industries and re-industrialisation of our communities is hugely compelling to me.

“I’m honoured to have been appointed as the chair and I welcome the opportunity to steer this impressive consortium as we create and implement the Forth Green Freeport.

“As an experienced adviser in delivering long-term economic development projects, I will support the Forth Green Freeport to deliver the community regeneration and many new jobs across Fife, Falkirk, Leith and Central Scotland. I’m delighted to be part of this.”

Mr Hammond said: “We are extremely privileged to have someone with Dame Susan’s extensive experience and enthusiasm to chair the ambitious opportunity that the Forth Green Freeport can deliver for Scotland.

“The decision to appoint Dame Susan was unanimously agreed by all of the consortium partners, both public and private sector, and we warmly welcome her to the board.

“Dame Susan’s career background is aligned perfectly as the consortium works together to create the driving force to deliver long term benefits for communities through well paid skilled green job creation and to assist in achieving the country’s net zero goals.”

Councillor Altany Craik, of Fife Council, spokesperson – Finance, Economy & Strategic Planning, said: “The appointment of Dame Susan Rice DBE, who has a distinguished background in finance and banking, as chair is good news for Forth Green Freeport (FGFP), for Fife and the wider region.

This is another positive step forward in attaining designation, which will support us to deliver real change by boosting local industry as well as creating new jobs and opportunities for our current communities as well as future generations.”

Cllr Craik added: “Key components of the FGFP green growth investment corridor are sites in Burntisland and Rosyth. Both locations and their associated infrastructure, skilled local labour market and socio-economic assets are integral to the future transformation of the Forth.

“We recognise the role that these sites can play in stimulating sustainable growth in advanced manufacturing, freight or logistics operations and the green economy.

“Fife Council and our regional partners through the £1 billion Edinburgh and South East Scotland City Region Deal recognise the important role that South West Fife and Mid Fife can have in securing economic regeneration of the Forth corridor, bolstering a strong and unique regional prosperity offer.”

Forth Green Freeport was shortlisted earlier this year with its bid to create an internationally renowned port, shipbuilding, manufacturing and logistics cluster at Rosyth. The shortlisted Green Freeport designation for the Firth of Forth supports the wider regional ambitions for green regeneration as a key offer within Edinburgh and South East Scotland, driving Scotland’s green economy.

Fife councillors backed the bid at a cabinet meeting in September 2022, where the continued involvement of Fife Council as a lead partner was approved. The identified sites within Rosyth and Burntisland, have the potential to support the delivery of new investment and several thousand new jobs.

The consortium is currently preparing its Outline Business Case which will be submitted to the Scottish and UK governments shortly.