The board of Scottish Financial Enterprise (SFE), the representative body for the financial services industry in Scotland, has selected Philip Grant of Lloyds Banking Group Plc (LBG) as its new chairman.
Grant’s appointment is subject to the approval of SFE members at an EGM, convened for this purpose, due to take place in June.
Grant’s new role will be in addition to his position as chairman of LBG’s Scottish executive committee with responsibility for the group in Scotland.
He is also managing director of customer and business risk of the Insurance and Wealth Division of LBG, which includes Scottish Widows.
Grant is already a member of the Scottish Government’s Banking and Economy Advisory Group co-chaired by the SFE CEO Graeme Jones and Finance Secretary Derek Mackay.
Grant will take over the role of SFE chairman from Jim Pettigrew, CYBG Plc chairman, who is stepping down after serving his full three-year term at SFE.
During Pettigrew’s time in the role, the SFE membership has grown by 25% and engagement with both the Scottish and UK governments has increased significantly.
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.”
Grant said: “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.”