Eilidh Mactaggart, the former chief executive of the Scottish National Investment Bank, has said she resigned from the £235,000-a-year job for “personal reasons.”

The Scottish National Investment Bank announced on February 25 that Mactaggart had resigned, but no reason was given for the departure.

It said chief financial officer Sarah Roughead will act as CEO with immediate effect while the board initiates a process to find a new, permanent CEO.

Mactaggart said in a statement: “My decision to resign from my position as chief executive of the Scottish National Investment Bank was a difficult decision to make, but ultimately it was made for personal reasons.

“I am extremely proud of everything I achieved while I was the bank’s chief executive, including: launching a bank in the midst of a global pandemic while working remotely; setting its investment strategy; and, establishing its investment portfolio.

“I am of course, most proud of the incredible team of talented individuals that the Bank now has in place, all bound by a common purpose to deliver investment to businesses and projects connected to Scotland to support the Bank’s missions.

“It was a privilege to be given the challenge of launching the Scottish National Investment Bank and being its inaugural chief executive and I wish the team I have built all the best for the future.

“I am considering a number of opportunities and looking forward to spending some more time with my young family in the meantime.”