Public appointment: Non-Executive Members appointed to Scottish National Investment Bank Board

The Cabinet Secretary for Economy, Tourism and Transport, Stephen Flynn MSP, today announced the appointment of Richard Hope, James McCourt and Lynne Rennie-Smith as Non-Executive Members of the Scottish National Investment Bank Board. 

Members 

Richard Hope has over 25 years history of investing in Private Markets. He has a broad ranging experience in Private Equity, Infrastructure and Venture Capital and is currently the global Co-Head of Investments and Head of Europe, the Middle East and Africa (EMEA) at Hamilton Lane.  In his role as Co-Head of Investments, Richard Co-Chairs the Hamilton Lane Investment Committee and has broad leadership and management responsibilities across the global investment platform. Prior to joining Hamilton Lane in 2011, 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. With over 35 years’ experience in the financial services industry, James has held senior roles in banking, private equity, asset management, pensions and insurance. He has held roles as Chief Risk Officer for Royal London Asset Management, Group Chief Conduct Officer and Group Investment Director. Prior to that, he held senior risk and investment roles within RBS and Aegon’s Positive Solutions and is a past lecturer at Glasgow Law School on Investment and Taxation. He holds a PhD in Financial markets from Edinburgh University. 

 

Lynne Rennie-Smith is a former Chief People Officer with extensive financial services experience gained in senior roles undertaken in 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. As a change agent, she has initiated and developed agile operating models to attract and retain the best talent in the organisations in which she has worked. She has also been a Board member for Perthshire Women’s Aid for the last 6.5 years. 

Appointment 

These appointments will be for four years and run from 1 October 2026 to 30 September 2030. 

These appointments are regulated by the Ethical Standards Commissioner. 

Remuneration 

These appointments attract remuneration of £850.00 per day for a time commitment of 25 days per year. 

Other ministerial appointments 

Richard Hope, James McCourt and Lynne Rennie-Smith do not hold any other public appointments. 

Political activity  

All appointments are made on merit and political activity plays no part in the selection process.  However, in accordance with the original Nolan recommendations, there is a requirement for appointees’ political activity within the last five years (if there is any to be declared) to be made public.    

Richard Hope, James McCourt and Lynne Rennie-Smith had no political activity within the last five years.  

Background 

Launched in November 2020, the Scottish National Investment Bank is a development investment bank for Scotland. The Bank provides patient (long term) debt or equity investments to businesses and projects throughout Scotland to support the development of a fairer, more sustainable economy. As an impact investor, the Bank is focused on delivering both commercial returns and impacts that align with at least one of its three missions: to support Scotland on its journey to net zero, to improve places and communities, or to harness innovation.