Scottish American Investment Company appoints ex-Treasury chief as non-executive director

The Board of The Scottish American Investment Company has appointed Sir Nicholas Macpherson as a non-executive Director.

Sir Nicholas join’s the Edinbuegh-based Baillie Gifford-run trust having been Permanent Secretary to the Treasury from 2005 to 2016, where he led the department through the global economic and financial crisis.

Prior to that, he held a number of senior posts at the Treasury, including heading the Spending and Tax directorates.

In the 1990s, he was Principal Private Secretary to Ken Clarke and Gordon Brown. An economist by training, he worked for Peat Marwick consulting and the CBI before joining the Treasury.

He is currently Chairman of C Hoare and Co, and is a visiting Professor at King’s College, London.

Peter Moon, Chairman of The Scottish American Investment Company P.L.C., said: “My fellow Directors and I are extremely pleased that Sir Nicholas has agreed to join the Board of SAINTS. We believe that his considerable experience and knowledge will augment that of the current Directors and enhance the Board.”

The £389m investment trust, which invests primarily in equities, currently yields investors 4 per cent.

Existing board members include former US ambassador Lord Kerr of Kinlochard, Bronwyn Curtis and Eric Hagman.