Three new non-executive directors have been appointed to the board of the Scottish National Investment Bank — Scotland’s development bank.
The new directors are Richard Hope, James McCourt and Lynne Rennie-Smith.
The appointments have been made by the Scottish Government’s Cabinet Secretary for Economy, Stephen Flynn MSP, ahead of the retirement of Jacqueline Redmond and Jonathan Taylor.
“Richard Hope has more than 25 years of experience investing in private markets,” said the bank.
“He is the global co-head of investments and head of Europe, the Middle East and Africa (EMEA) at Hamilton Lane, where he co-chairs the Hamilton Lane investment committee.
“Prior to joining the investment manager, Richard worked as a director with Alliance Trust Equity Partners and with Noble Fund Managers, where he was responsible for making and managing UK-based regional venture and growth capital investments.
“Dr James McCourt was a member of the Group Executive Committee at Royal London before retiring from his role as Royal London’s Group Chief Risk Officer in September 2026.
“He was responsible for defining and executing the group’s risk management strategy. Throughout his 35-year career in the financial services industry, James has held senior roles in banking, asset management, pensions and insurance.
“Prior to joining Royal London Group, he held senior risk and investment roles within Royal Bank of Scotland and Aegon’s Positive Solutions and is a former lecturer on investment and taxation at University of Glasgow, School of Law. He holds a PhD in financial markets from Edinburgh University.
“With a career spanning 35 years, Lynne Rennie-Smith is a former chief people officer in the financial services sector.
“She held senior roles at Tesco Bank, Royal Bank of Scotland, Ulster Bank Ireland and Nationwide Building Society.
“With a focus on culture and colleague engagement, Lynne has developed innovative, practical and people focused strategies to aid and improve business performance. She has also served as a member of Perthshire Women’s Aid’s board for the last six and a half years.
“The appointments have been made as Jacqueline Redmond and Jonathan Taylor are retiring from the Bank’s Board. Both Jacqueline and Jonathan were appointed at the launch of the bank in November 2020 and are retiring at the completion of their terms.”
Scottish National Investment Bank chair Willie Watt said: “It is my honour to welcome Lynne, Richard and James to the board. The depth and breadth of their collective experience will be a significant asset to the bank as we enter our seventh year and the next phase of our growth.
“I also would like to express my deep appreciation to Jacqueline and Jonathan. Their commitment, insight and guidance have made a significant contribution to the bank’s work. I am grateful for the support they have provided and wish them well.”
The Scottish National Investment Bank is a public limited company (plc) which was established in November 2020. It is wholly owned by Scottish Government ministers, on behalf of the people of Scotland, but operates independently from government.
The Scottish Government has committed to capitalising the bank — an impact investor — with £2 billion in its first 10 years.