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FiSAB Meeting November 2011 News Release

Financial Services Advisory Board (FiSAB)


Finance Secretary John Swinney has today announced eight new members of the Financial Services Advisory Board (FiSAB).

Comprising leading figures from finance, higher education and the trade union movement, the eight new members are senior figures in their professions and will offer advice to the Scottish Government on future economic strategy:

  • Philip Grant, Managing Director, Lloyds Banking Group
  • Mark Little, Managing Director, Barclays Wealth
  • Ian Macmillan, Managing Director, JP Morgan
  • Angus Macpherson, Head of Investment Banking, Espirito Santo
  • David Fleming, National Officer, Unite
  • Barry Muir, Vice President, State Street
  • David Nish, Chief Executive, Standard Life
  • Prof. Seamus McDaid, Convener, Universities Scotland

Mr Swinney welcomed the new members to St Andrew's House in Edinburgh for FiSAB's first meeting since the Scottish election in May this year, and he also announced Sir George Mathewson is taking up a position as adviser to the board.

Cabinet Secretary for Finance, Employment and Sustainable Growth John Swinney said:

"Scotland has a long-established reputation for financial services excellence and the Financial Services Advisory Board brings together the brightest and the best financial minds in Scotland.

"Their specialist knowledge and expertise has proved invaluable to the Scottish Government and the new members being announced today will only strengthen that in the months and years to come.

"The appointment of Sir George Mathewson as an adviser to FiSAB is particularly welcome. His decades of professional experience and financial services expertise will serve as a resource that will benefit the Scottish economy as a whole.

"Scotland continues to face economic challenges and opportunities. It is critical we continue to do all we can to accelerate sustainable economic growth and FiSAB plays a pivotal role in that by promoting our financial services sector.

"FiSAB ensures Scotland remains in an optimum position to capitalise on opportunities in the financial services industry. The FiSAB membership provides a unique mix of skills and expertise, all focused on increasing Scotland's economic growth and productivity."

Chairman of Scottish Financial Enterprise Mark Tennant said:

"FiSAB is the focal point for Scottish Government Ministers and senior members of the financial services industry in Scotland to discuss and influence the issues impacting on the industry. The expertise around the table has much to contribute in terms of knowledge of the on-going challenges faced by the industry throughout the world and what that means to companies operating in Scotland.

"The new members joining us today reflect the rich diversity of our industry in Scotland and their fresh thinking will bring new vigour and experience to our discussions."

Scotland's Financial Services Advisory Board (FiSAB) is a unique partnership which brings together senior figures from the financial services industry, the government, wider public sector, and the unions to strengthen Scotland's position as a global centre for financial services. It is chaired at the highest level by the First Minister and both the Cabinet Secretary for Finance, Employment and Sustainable Growth and the Minister for Energy, Enterprise, and Tourism are members of the Board. FiSAB is the custodian and advocate of the Strategy for the Financial Services Industry in Scotland.

Its full membership is: Alex Salmond - First Minister, John Swinney - Cabinet Secretary for Finance, Employment & Sustainable Growth Fergus Ewing - Minister for Energy, Enterprise, and Tourism Mark Tennant - Chairman SFE, and JP Morgan Ian Ferguson - Aviva David Fleming - Unite the Union Martin Gilbert - Aberdeen Asset Management Philip Grant - Lloyds Banking Group Benny Higgins - Tesco Bank Mark Little - Barclays Wealth Sir George Mathewson - Adviser Professor Seamus McDaid - Universities Scotland Andrew McLaughlin - Royal Bank of Scotland Ian Macmillan - JP Morgan Angus Macpherson - Espirito Santo Barry Muir - State Street David Nish - Standard Life John Rendall - HSBC Magnus Swanson - Maclay, Murray & Spens Lena Wilson - Scottish Enterprise John Mason - Scottish Government Treasury observer.