The Scottish National Investment Bank (SNIB) has confirmed the reappointment of Tracey Ashworth-Davies, Jason McGibbon, Nicholas Moon and Candida Morley as independent non-executive directors of the bank’s board.

Morley will continue as the board’s senior independent director. Morley currently has a senior executive role in UK Government Investments.

Ashworth-Davies is currently Deputy Chief Executive Officer (Corporate) at NHS Education for Scotland. She previously held senior roles with Legal & General, Toronto Dominion Bank Group, Royal London Group and Scottish Provident.

McGibbon currently has a portfolio of chairperson and non-executive director roles including Fable Data, OneFourZero, Phlo and Lumity. He is also a Member of the Board of Trustees for Entrepreneurial Scotland.

Moon is a former Executive Director of Strategy for the Development Bank for Wales. He is also an advisory board member for the World Bank IFC operating principles for global impact and a trustee board member for the Social Enterprise Academy.

The re-appointments are for four years and run from November 23, 2024, to November 22, 2028. The appointments are regulated by the Ethical Standards Commissioner.

The bank announced in August that it committed £224.6 million in capital to 20 companies over the 2023-24 financial year.

The latest increase in committed investments brought the total amount of capital the bank has deployed since inception in November 2020 to around £640 million. The bank now has 35 companies in its growing portfolio.

In the 2023-24 financial year, £129 million was committed to eight new investments, plus £96 million growth capital in 12 follow-on investments.

The Bank’s Remuneration and Nominations Committee and Board recommended the reappointments.

The Board is comprised of twelve directors, including 10 independent non-executive directors, the CEO and the CFO.