The Scottish National Investment Bank — Scotland’s development bank — announced that current non-executive director Carolyn Jameson has been appointed as its new senior independent director.

“This follows the resignation of Candida Morley from her role as Senior Independent Director on the Bank Board, effective 8 August 2025,” said the bank.

Scottish National Investment Bank chair Willie Watt said: “Candida has been an invaluable member of the board since the launch of the bank and a great support to me in my role as chair.

“I would like to thank Candida for her contribution.”

Jameson is an experienced leader of technology businesses and is currently Chief Legal Officer at Airalo, an international eSIM company.

She has particular exposure to scaling businesses to exit events. She was previously Chief Trust Officer at Trustpilot at IPO, and prior to that, Chief Legal Officer at Skyscanner, where she led the sale of the business for £1.46 billion, and subsequently became Head of International M&A for Ctrip.

Jameson is currently a member of the Advisory Board of Scottish Equity Partners LLP and acts as a Non-Executive Director on AIM listed Ten Lifestyle Group, and flights comparison website Dohop.

She was educated at University of Edinburgh.

On August 21, the Scottish National Investment Bank said its income increased 78.8% to £34.5 million in the year to March 31, 2025.

The development bank said this was the second year in a row its income exceeded its operating costs, which it said were £16.2 million in the past year.

The bank said it committed £145 million in 2024-25 and “crowded in” a further £324 million “meaning the Bank has leveraged its capital to increase additional investment in Scotland.”

The development bank said its “net unrealised or paper loss on revaluation of investments” for the year was £77 million “relating to the bank’s portfolio of long-term investments.”

It said: “There were no realised losses.”

The development bank said it has now committed £785 million across 42 businesses and projects since its inception in November 2020 and “crowded in” £1.4 billion of additional investment.