At the helm of the SFE since October 2020, he previously led the development of the Scottish Government’s Young Person’s Guarantee, following an 18-month contract at Tesco Bank as the chief transformation officer.

Mr Begbie was also responsible for the Global People, Organisation and Culture Integration, following the merger of Standard Life and Aberdeen Asset Management, as well as eight years as Standard Life’s chief people officer and lead executive for China and Hong Kong.

He was awarded a CBE in the Queen’s Birthday Honours List in August 2018 for services to business and social inclusion, and was elected as a Fellow of the Royal Society of Edinburgh in March 2023.

Mr Begbie has been nominated for the Freedom by policy chairman of the City of London Corporation, Chris Hayward, and its deputy policy chairman, Keith Bottomley.

Mr Hayward said: “With decades of experience in business under his belt, a keen intellect, and a clear and recognised commitment to promoting social inclusion, Sandy Begbie is a real asset to Scottish Financial Enterprise, and eminently worthy of recognition with the City’s award.

“It has been a pleasure to nominate him for the Freedom of the City of London to thank him for his sterling work at home and abroad over the years, and to express the high esteem in which my colleagues and I hold him.”

Speaking before his ceremony at Guildhall, Mr Begbie said: “Four decades after starting my career at RBS as a 17-year-old school leaver, I am deeply honoured to receive the Freedom of the City of London today.

“But while I am very proud of this award personally, it is also recognition of the ongoing importance of Scotland’s financial and professional services sector, our strong ties with the City of London, and its continuing focus on fostering economic growth and driving social inclusion.”

One of the City of London’s ancient traditions, the Freedom is believed to have begun in 1237 and enabled recipients to carry out their trade.

As well as being nominated for, or applying for, the Freedom, it is also offered by the City of London Corporation to individuals as a way of paying tribute to their outstanding contribution to London or public life, or to celebrate a very significant achievement.

Recent high-profile recipients include former chief economist at the Bank of England, Andy Haldane; chief medical officer for England, Sir Chris Whitty; former managing director and chief privacy officer at the London Stock Exchange, Vivienne Artz; and ‘Hamilton’ actor and musician, Giles Terera.