Steve Lamey, the chief executive of the UK’s Glasgow-based Student Loans Company (SLC), has been suspended pending an investigation, according to reports.

No clear reason was given.

The SLC administers more than £100 billion in student loans.

The SLC was quoted as saying: “On 11 July 2017, the Student Loans Company, in consultation with the Department for Education, took the decision to suspend the chief executive pending an investigation into concerns which have been raised.

“The suspension is a neutral act and does not imply wrongdoing.

“As the matters leading to suspension are now subject to an independent investigation, it would be inappropriate to comment further at this time.”

The suspension comes at an embarrassing time for the UK government as debate rages over the future of university tuition fees.

The UK’s Department for Education was quoted as saying: “We can confirm that the Student Loans Company board in consultation with the DfE has suspended its chief executive officer …

“The matters leading to suspension are currently subject to an independent investigation and it would be inappropriate to comment while this is ongoing.

“We are confident that SLC operations will not be detrimentally affected as a result of this issue.”