John McGuigan has announced his intention to stand down as chair of Scottish Financial Enterprise (SFE), with deputy chair Sue Dawe proposed to be confirmed as his successor at an EGM next month.

McGuigan was appointed chair of Scottish Rugby in 2023 and chair of mutual insurer Scottish Friendly earlier this year.

He took on his SFE role in November 2022, having joined the SFE board in 2016. Prior to this, he spent nine years with Standard Life and Phoenix Group as Group Customer Director, as well as time in Munich as Managing Director of Sales and Service for Telefonica.

SFE said its board completed a selection process to appoint a new chair and will propose to the upcoming EGM that Sue Dawe be appointed.

Dawe is EY Scotland Managing Partner for Financial Services as well as SFE deputy chair, having joined the SFE board in 2019.

SFE is the representative body for Scotland’s financial services industry, which is the biggest sectoral contributor to Scotland’s economy, representing £13.6 billion or 9.2% of GVA and employing 160,000 people — around 9% of national employment.

SFE CEO Sandy Begbie CBE said: “On behalf of SFE and our members I’d like to thank John for his leadership and direction, both during his tenure as chair and since joining the SFE board.

“He has brought a wealth of experience and insight to the SFE board and while I am sad to see him go, John’s leadership has helped build the strong, diverse and committed board that will continue to drive our organisation as we deliver on our strategy.

“John has presided over continued growth for our organisation both in terms of our membership and our profile in championing the interests of Scotland’s financial and professional services sector.

“He has been very supportive to me, and leaves SFE with our very best wishes.”