Philip Grant

Mr Grant’s new role will be in addition to his position as chair of LBG’s Scottish executive committee, with responsibility for the Group in Scotland, and managing director of customer and business risk of the insurance and wealth division of LBG, which includes Scottish Widows.

In 2016, Mr Grant was appointed to chair the SFE High Level Strategy Group which was responsible for devising the organisation’s five-year strategy 2017-2022.

The outputs of this strategy are presented at the quarterly meetings of the Scottish Government’s Financial Services Advisory Board (FiSAB), co-chaired by the First Minister and the SFE chairman.

Mr Grant is already a member of FiSAB as well as the Scottish Government’s Banking and Economy Advisory Group, co-chaired by SFE CEO Graeme Jones and Finance Secretary Derek Mackay.

Mr Grant will take over the role of SFE chair from Jim Pettigrew, CYBG Plc chair, who is stepping down after serving his full three-year term at SFE.

During his time in the role, the SFE membership has grown by a quarter and engagement with both the Scottish and UK governments increased significantly.

Mr Pettigrew said: “It has been an absolute privilege to have held the position of SFE chairman during which time we have seen huge progress with a new, fantastic, output-driven strategy, increased engagement with key stakeholders and record levels of membership.

“I am particularly proud of the work done to develop skills, talent and retraining as we look to maintain our industry’s enviable reputation as a world leader in financial services. We should always trust the young and invest in their future. They are the leaders of tomorrow with the potential to transform this industry while making a huge contribution to society.

“Philip is an excellent person to assume this prestigious role within the Scottish financial services industry. I wish him well, confident that he will continue our industry’s legacy of excellence.”

Mr Grant added: “Having a strong, growing and innovative financial services sector is vital for Scotland’s economy and global reputation. Scotland’s people, education and skills infrastructure, enterprise support and ecosystem of established world class businesses, make it a fantastic place to start and grow a financial services business with local or international reach.

“SFE is the focal point for the development of the economic, consumer and social value of financial services in Scotland. Its members have a shared commitment to making a wide range of career opportunities available across the diverse communities across Scotland. I’m very much looking forward to working with Graeme, the Board and members to continue the great work that marked Jim’s time as chairman.”

Mr Grant’s appointment is subject to the approval of SFE members at an EGM, convened for this purpose, due to take place next month.